CoreLogic has released the final auction clearance rate for last weekend, which has rebounded to 60.4%; albeit off very weak volumes:
According to CoreLogic:
The capital city final auction clearance rate came in at 60.4% last week, surpassing the previous week’s 59.9% as the highest final result we’ve seen since Mid-March. The improved clearance rate was across a lower volume of auctions with 417 held, down on the 480 held over the week prior. Of the 349 results collected, 15% were withdrawn which was much lower than the previous week’s 22% and the 50% seen a few weeks ago, which is a contributing factor in the improvement of clearances rates over the last few weeks. The number of properties selling prior to the scheduled auction date appears to have normalised last week, of the 209 sold results, 28.7% were sold prior to the scheduled auction date which was on par with what we would usually see. The previous week saw 43.8% of sold results recorded as ‘sold prior’ and a few weeks ago sold priors accounted for 50-60% of sold results.
