Long Weekend Disrupts The Improving Trend In Auction Results  –  Fewer Properties Were Taken To Auction Over The Long Weekend, With Preliminary Clearance Rates Softening Relative To Last Week

A quiet week for auctions with 803 homes taken to market across the combined capital cities, as most states welcomed a long weekend with the Queen’s Birthday public holiday on Monday. The subdued activity returned a preliminary auction clearance rate of 51.3 per cent, falling from last week’s final auction clearance rate of 58 per cent when volumes were higher (1,661).  One year ago, 904 homes were taken to auction returning a final clearance rate of 53.8 per cent.

The lower…