Auction Clearance Rates Have Strengthened, But Activity Remains Substantially Below Average

This week, 400 capital city homes were scheduled for auction, with preliminary results returning a 64.0 per cent clearance rate. The previous week saw 480 homes scheduled for auction and a final clearance rate of 59.9 per cent. One year ago, there were 930 homes taken to auction and a 55.2 per cent clearance rate. It is important to interpret clearance rates with caution given auction volumes remain substantially lower than usual.

Sydney, one of Australia’s largest auction…