The auction market has held firm in the face of lockdowns, with the final national clearance rate remaining steady at 73.7% off similar volumes (2,097 versus 2,104 the prior weekend).
As shown in the next table, Sydney’s final clearance rate rose to 76.6% from 74.3% the prior weekend. This was off 769 auctions (versus 650 auctions the prior weekend).
Melbourne recorded a final clearance rate of 71.5%, up from the 71.2% recorded the previous weekend.
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Auction clearances were mixed across the smaller markets.
The national auction clearance rate has retraced sharply from March’s peak:
Other things equal, the auction market is still pointing to softer price growth over the second half:
This weekend there are 2,153 auctions scheduled to take place across the capital cities. This compares to last week’s 2,097 auctions and the 1,326 auctions held over the same weekend last year:
These are solid volumes in the face of lockdowns.
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