Preliminary Auction Clearance Rate Rises As Volumes Increase

The week saw the combined capital city preliminary auction clearance rate improve with 63.3% of homes selling at auction over the week. The higher clearance rate was against a higher volume of auctions, with 1,164 properties scheduled for auction; the busiest week for auctions since the week ending 19 April. Last week, there were 711 scheduled auctions with a preliminary clearance rate of 59.8%, later revising down to 56.2% at final figures. While volumes remain lower than one year ago, the…