It was a wet weekend in Melbourne with many auctions shifted to garages and lounge rooms. However, that didn't dampen people's appetite to bid. There were 1,035 auctions held with a preliminary clearance rate of 77.2%. The week prior saw a lower 211 auctions held and a final auction clearance rate of 73.5% and one year ago 88 auctions were held and 20% sold.
Auction volumes rose across the combined capitals this week with 2,170 homes taken to auction, increasing on the 845 auctions held over the Easter week. The higher volumes saw an improvement in the preliminary auction clearance rate with 79.9% of homes selling, up on the 79.4% preliminary figure last week.
Over the same week last year, it was not only Easter that dampened auction activity, but also the imposition of social distancing measures which included the banning of on-site auctions. Under these conditions, a lower 634 auctions were scheduled and only 30.6% cleared with 56% withdrawn.
In Sydney this weekend a preliminary auction clearance rate of 82.8% was recorded as volumes rose. There were 814 auctions held across the city, up on the Easter week’s 404 auctions held when an 82% success rate was achieved according to final figures.
Adelaide, Brisbane, and Canberra all recorded preliminary auction clearance rates above 80% this week, Canberra was the better performer with a 90.1% preliminary result. In Perth and Tasmania, 50% or less auctions were successful over the week.