Blog

Explore the latest developments concerning Auction clearance rates.

Auction clearance rates rebound to seven-week high

After three weeks in the sub-50 per cent doldrums, auction clearance rates have bounced back to their highest level in seven weeks as lower volume constrains choice and buyers and sellers acclimatise to the cooling post-budget market.

According to data house Cotality, the preliminary clearance rate across the combined capitals hit 54.8 per cent, a significant jump on last week’s 49.8 per cent, which was revised down to 46 per cent on final numbers.

Gift 5 articles to anyone you choose each month when you subscribe.

Auction rates have dropped 30 points since January, should we be worried?

Your digital subscription includes access to content from all our websites in your region.
Access unlimited news content and The Canberra Times app. Premium subscribers also enjoy interactive puzzles and access to the digital version of our print edition – Today's Paper.

The ACT's auction clearance rates have dropped 30 percentage points since the start of the year, but experts in the industry are divided on whether it is any cause for alarm.

Ray White's Kelsey Tracey said the situation was not yet dire – and unlikely to become so.

"Anything over 40 per cent is actually just a really healthy market," Ms Tracey said.

Auctions quagmire continues

This week, the combined capital preliminary auction clearance rate increased to 54.8%, the highest early clearance percentage in seven weeks, following three weeks of staying below 50%. With last week’s preliminary clearance rate of 49.8% being revised down to 46.0%, the increase is off a low base.

An 8.7% decrease in volume coincided with an increase in the early clearance rate.

Over the course of the week, 1,318 auctions took place, which is 8.0% fewer than the same week the previous year.

The full text of this article is available to MacroBusiness subscribers

For more detailed information, explore updates concerning Auction clearance rates.

For more news…

Explore the latest developments concerning Auction clearance rates.

Auction clearance rates rebound to seven-week high

After three weeks in the sub-50 per cent doldrums, auction clearance rates have bounced back to their highest level in seven weeks as lower volume constrains choice and buyers and sellers acclimatise to the cooling post-budget market.

According to data house Cotality, the preliminary clearance rate across the combined capitals hit 54.8 per cent, a significant jump on last week’s 49.8 per cent, which was revised down to 46 per cent on final numbers.

Gift 5 articles to anyone you choose each month when you subscribe.

Auction rates have dropped 30 points since January, should we be worried?

Your digital subscription includes access to content from all our websites in your region.
Access unlimited news content and The Canberra Times app. Premium subscribers also enjoy interactive puzzles and access to the digital version of our print edition – Today's Paper.

The ACT's auction clearance rates have dropped 30 percentage points since the start of the year, but experts in the industry are divided on whether it is any cause for alarm.

Ray White's Kelsey Tracey said the situation was not yet dire – and unlikely to become so.

"Anything over 40 per cent is actually just a really healthy market," Ms Tracey said.

Melbourne auctions headed for worst slump since Covid

Melbourne auctions have returned clearance rates below 50 per cent for four weeks straight.

Melbourne is just a fortnight away from its worst run of failed auctions since the Covid pandemic lockdowns.

Experts have warned homeowners will need to lower their price expectations to meet the market if the current slump continues, which could lead to a short-term hit to wider home values.

A total of 561 Melbourne residences are slated to go under the hammer this week, down 4 per cent from a year ago, along with 17 abodes in Victoria’s regional areas.

RELATED: Victorian home building drops to decade low, crisis fears worsen

For more detailed information, explore updates concerning Auction clearance rates.

For more news…