Auction Clearance Rates – Week Ending 11th of July
Despite the lockdowns in Sydney this week clearance rates were only marginally down on last week’s number. Sydney reported that 22% of properties registered for auction were withdrawn while many sold prior to the auction. Despite all that buyer numbers are still very strong and clearance rates are still up 15%+ on this time last year.
Buyer demand is slightly up by about 3% on previous weeks and although more properties are listed for sale as soon as they come online they seem to be absorbed by current “ready-to-go” buyers very quickly.
Auction Results State by State. (Auctions/Private Sales)
Queensland – 71% (132/1380)
NSW – 88% (370/1826)
Victoria – 82% (731/1446)
ACT – 96% (67/56)
South Australia – 92% (71/324)
Tasmania – 100% (2/158)
Western Australia – 70% (10/705)
Northern Territory – 50% (2/48)
