Auction market plunges into virus

The preliminary auction clearance rate plunged over the weekend, presumably because of fears surrounding the coronavirus.

At the national level, the preliminary rate was 61.3%, well down from 70.6% last weekend, but still significantly above the 50.9% recorded in the same weekend last year:

Sydney’s preliminary clearance rate was 64.4%, well below the 74.6% last weekend but still way above the 52.1% recorded in the same weekend last year.

Melbourne’s preliminary clearance rate was 62.7%, well down from 70.1% last weekend but also way above the 50.9% recorded in the same weekend last year.

Auction volumes (2,539) also remained well above the same weekend last year (1,667).

Domain’s preliminary auction results were almost identical, but based on a smaller sample size:

This might be the last auction report for a while given the impending shutdown of non-essential business.

Leith van Onselen

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