Auction Volumes & Preliminary Clearance Rate Bounces Back

Auction activity across the combined capital cities increased this week after last week’s grand final and public holiday slowdown, with 1,809 homes taken to auction, almost doubling from the 895 last week.

The higher volumes returned a preliminary auction clearance rate of 53.7 per cent, increasing on last week when the subdued activity returned a final auction clearance rate of 45.8 per cent; the lowest clearance rate seen since June 2012 (42.0 per cent). Compared to one…