The Auction Clearance Rate Jumped With The Return Of On-Site Auctions – But Does This Mean A Recovery Has Started?

The week ending 10th of May delivered a final auction clearance rate of 59.9%. This has jumped from a clearance rate of 47.5% in the previous week and a recent low of just 30.2% only four weeks ago. 

It is the highest clearance rate result since the week ending March 15, before the strictest social distancing measures were rolled out across Australia. However, the number of auctions held last week was almost 80% lower. 

The increase in the auction clearance rate comes as…