Auction Markets Remain Strong Despite Coronavirus Concerns

There were 2,220 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 70.6 per cent. In comparison, 1,494 auctions were held last week, returning a final clearance rate of 68.6 per cent. After the remaining results are collected it is likely that the final auction clearance rate will revise below 70 per cent for the second week in a row. Over the same week last year, 1,875 homes went under the hammer across the combined…