Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Clearance rates pick up as auction volumes increase

By Reporter
15 June 2020 | 1 minute read
Auction

New research has painted a positive picture for auction activity, with 63.3 per cent of homes across the combined capital cities selling at auction over the week concluded 14 June.

According to CoreLogic’s latest Property Market Indicator Summary, the week saw the combined capital city preliminary auction clearance rate improve, with 63.3 per cent of homes selling at auction.

“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,” CoreLogic said.

“Last week, there were 711 scheduled auctions, with a preliminary clearance rate of 59.8 per cent, later revising down to 56.2 per cent at final figures.

“While volumes remain lower than one year ago, the gap was less significant this week, with 1,505 auctions held one year ago when 61.8 per cent cleared.”

The research found Sydney and Melbourne both returned preliminary clearance rates above 60 per cent this week.

“There were 474 Melbourne homes taken to auction with a 61 per cent success rate, which was more than double the volume of auctions held last week (195), when a final clearance rate of 60.1 per cent was recorded,” CoreLogic said.

“Sydney’s preliminary figures saw 67.3 per cent of homes successful at auction last week, with 532 auctions held across the city, higher than the 398 last week when 56.8 per cent sold.”

Clearance rates pick up as auction volumes increase
auction reb
lawyersweekly logo

ABOUT THE AUTHOR


Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of editorial at Momentum Media.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]com.au

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.