The highlights from last weekend’s auction results were:
- The national auction clearance rate was 84.45%. Holding steady at astronomical levels, following on from last week’s preliminary clearance of 86.1%. It was 72.7% this time last year.
- Auction activity ramps up, with 2,094 homes taken to auction. A big jump from last week’s 1,529, but interestingly less than the 2,517 at the same time last year. We will need more data to see if this is a trend or an anomaly because high clearance rates normally mean more auctions.
- For the fourth week in a row, Canberra, Adelaide, Melbourne and Sydney return auction results with a clearance above 80%. With Canberra still leading the pack with 92.42%. Above 70% signifies a strong market. Above 80% tells us that us this is a rapidly moving market.
Check out last weekend’s results – 15 February 2021
Check out the most recent auction results from CoreLogic