Preliminary clearance rate and volumes lower over the week

The combined capital city preliminary auction clearance rate came in below 70% this week as volumes fell due to the long weekend. There were 657 homes taken to auction, down from the 1,082 auctions held last week. Of the 530 results collected so far, 69.3% were successful, only slightly lower than last week’s preliminary figure of 70.5%, which by final collection on Wednesday revised down to 64.2%. Over the same week last year, a final clearance rate of 67.6% was reported across a higher 1,324 auctions. 

Activity remains close to record lows in Melbourne with 57 scheduled auctions this week; this was a slight increase on the 40 auctions last week and only 11 auctions held two weeks ago. Of the 49 results…

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