Preliminary Auction Clearance Rate Drops Below 30% Over The Easter Long Weekend As Withdrawn Auctions Rise To Comprise 57% Of All Reported Results

Across the combined capital cities, a very subdued 636 homes were scheduled for auction over the Easter week. So far, 472 results have been collected returning a preliminary auction clearance rate of 29.3%, dragged down by a withdrawal rate of 57% as the auction market continues to face challenges around social distancing measures banning on-site auctions. Of the sold results this week, 63% sold prior to the scheduled auction date. 

The low volumes over the week are not unusual…