The nation has recorded the busiest auction week since the 25th March 2018 when 3,990 capital city homes were taken to auction, with 3,791 auctions recorded this last weekend prior to Easter. Despite the large number of auctions, clearance rates remained heady and actually increased from the previous weekend, further reinforcing the deep underlying demand for residential property currently.
Here are the highlights from last weekend’s Super Saturday of auctions:
- The national auction clearance rate was 84.4%, improving from last week’s 82.0%.
- Auction volumes increase, as expected, with a total of 3,791 auctions held, compared with 2,731 last week. A jump in volume leading into the weekend prior to Easter is common, and often termed as a ‘Super Saturday’.
- For the ninth week in a row, Canberra and Sydney return clearances above 80%, with Melbourne also returning to the above 80 club.
- Sydney continues to have the highest clearance rate, clocking in 89.1% out of a total of 1,392 auctions.
- Melbourne had 1,899 auctions, whereas Sydney had 1,392 which is likely to have some downward pressure on auction clearance rates.
Check out last weekend’s results – 22 March 2021
Check out the most recent auction results from CoreLogic
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