Auction volumes and clearances in January show significant increases from last year’s figures, a precursor for what we can expect in 2021.
Here are the highlights of last weekend’s auctions from CoreLogic:
- The national auction clearance rate was 81.1% compared to 61.0% this time last year, which was pre-Covid with Sydney and Melbourne in full swing on an upward trajectory post the May 2019 election.
- Auction activity ramps up, with 891 homes taken to auction, considerably higher than the 625 this time last year.
- All capital city clearance rates are stronger than this time last year.
- Melbourne held the most auctions with 388 homes under the hammer, compared with 211 this time last year.
- Canberra, Adelaide, Melbourne and Sydney return clearances above 80%, Canberra leading the pack with 84.4%.