The auction market has largely swept aside Sydney’s lockdown, with the final national clearance rate rising to 73.7% from 72.1% the prior weekend off similar volumes (2,104 versus 2,168 the prior weekend).
As shown in the next table, Sydney’s final clearance rate rose to 74.3% from 70.5% the prior weekend. This was off 650 auctions (versus 756 auctions the prior weekend).
Melbourne recorded a final clearance rate of 71.2%, down from the 73.1% recorded the previous weekend.
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Auction clearances were mostly strong across the smaller markets, Perth being the exception.
The national auction clearance rate has retraced sharply from March’s peak:
Other things equal, the auction market is pointing to softer price growth over the second half:
This weekend there are 2,430 auctions scheduled to take place across the capital cities, up 15% on last week’s final figures (2,104) and over double the volume of auctions held one year ago (1,176):
However, Melbourne’s snap lockdown will likely result in many auctions being withdrawn.
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