Auction Clearance Rates Weighed Down by Withdrawn Auctions

Challenges around new policies banning onsite auctions continued to see the auction market take a hit this week, over what is usually one of the busiest weeks of the year historically.  This pre-Easter weekend didn’t quite meet the usual expectations, with 45% of auctions withdrawn from sale and 84% of auctions sold prior to the event. 

The last two weeks had more than 6,000 properties scheduled for auction, with anticipation high as confidence was returning to the market…