The nation’s auction gathered more steam over the weekend, recording a preliminary national clearance rate of 84.4%, up from the prior weekend’s 82.4%.
Sydney’s preliminary clearance rate remained rock solid at 82.4% versus 84.3% the prior weekend, whereas Melbourne’s strengthened to 87.0% from 77.2% the prior weekend:
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According to CoreLogic:
There were 1,986 homes taken to auction across the combined capital cities this week, up from 1,626 over the previous week and 648 this time last year, making it the busiest auction week since mid-July. The higher volumes saw an increase in the preliminary auction clearance rate, with 84.4 per cent of the 1,704 results collected so far returning a successful result. In comparison, a preliminary auction clearance rate of 82.4 per cent was recorded last week, revising down to 80.6 per cent by final collection on Wednesday…
Melbourne was the busiest auction market this week with 800 homes taken to auction across the city, up significantly from 352 over the previous week and 55 this time last year…
Sydney was host to 753 auctions this week, compared to 829 over the previous week and 430 this time last year.
Across the smaller capitals, where auctions are far less common, auction clearances were strong.
The nation’s clearance rate has rebounded back to March’s peak:
Domain’s auction results were also strong, but off a much smaller sample size:
Australia’s property market continues to boom despite lockdowns.
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