Subdued Auction Conditions Over the First Three Weeks of Spring with Rates Holding in the mid 50% Range

There were 2,404 homes taken to auction across the combined capital cities this week, increasing from 1,983 over the previous week. Despite the fact auction volumes have been increasing over the month, 378 fewer auctions were held this week compared to the same week last year, predominantly due to the decline in auction volumes across Sydney and Melbourne, our two largest auction markets. 

Preliminary results show a clearance rate of 55.5 per cent across the combined capital…