Most Capitals Hold Firm

by | 29 May 2020 | Auction Update

  • Auction numbers edge up slightly
  • Clearance W.O.W. is up
  • Withdrawals down to 11%

Last week

The final weighted-average clearance rate came in at 62.7% last week, surpassing the previous week’s 60.4% as the highest result since the week ending 15 March. While clearance rates have bounced back to almost pre-restriction levels, volumes remain significantly lower than what we would usually see. There were 612 auctions scheduled last week, higher than the week prior when 417 auctions were held, however, much lower than the 2,055 held over the same week last year.

This week and weekend

The combined capital city auction market is expected to see a slight increase in auction volumes this week, with CoreLogic currently tracking 692 scheduled auctions. Last week, a lower 612 auctions were scheduled across the capital cities.

While scheduled numbers are set to increase, with this week expected to be the busiest since mid-April, volumes remain substantially lower than what we would usually see. Over the same week one year ago, 1,661 capital city homes were taken to auction.

Watch for Kevin Brogan’s thoughts about the weekend ahead and the numbers around the country and then join him on Monday as he gives the most comprehensive national roundup of the full week’s activity and a look inside the top sales in 6 capital cities.