Auction clearances bounce

The national auction clearance rate bounced over the weekend, driven by a big rebound in Melbourne, which drove the preliminary national clearance rate up to 70.0% from 66.9% last week and 70.2% at the same time last year.

ScreenHunter_6076 Feb. 15 19.09

Sydney’s clearance actually fell by 2.6% to 77.9%, whereas Melbourne’s rose 6.0% to 67.4%. Brisbane, which typically only has a small number of auctions, experienced a solid rise in its clearance rate (up 5.0%% to 45.6%). Overall auction volumes (1,365) were also up significantly on last weekend’s 954.

ScreenHunter_6075 Feb. 15 19.09

The Real Estate Institute of Victoria reported a preliminary clearance rate of 74% on 458 reported auctions, which was up from the 61% clearance rate on 412 auctions reported last weekend.

For Sydney, Domain (formerly APM) reported a preliminary clearance rate 83% on 372 reported auctions, which was up from the 82% clearance rate on 256 auctions reported last weekend.

Comments

  1. Hey mods, is my comment blocked? The one calling for more rate cuts. It has happened thrice in last few days.

  2. haha Perth….classic. all these old sods selling at auction looking to squeeze top dollar like its 2007. epic fail. no one wants your F@#$ing house! soon the agents will be rocking up at home opens driving rusty Datsun Sunnys. this is the stuff of dreams