The weekly auction results and clearance rates still managed to soar – even with Melbourne going into a short 5 day lockdown. Agents and buyers were quick to shift to online auctions – necessity is the mother of invention as they say!
Where there is a will ‘to buy property’, there is a way!
The highlights from last weekend’s auction results were:
- The national auction clearance rate was 84.46%, improving from last week’s 83.8%.
- Auction activity ramps up, with 1,529 homes taken to auction. This is a big jump from last week’s 1,304, but slightly less than the 1,596 last year because more than 110 auctions were pulled in Melbourne due to the lockdown. Not ALL agents moved to an online auction!
- For the third week in a row, Canberra, Adelaide, Melbourne and Sydney return clearances above 80% with Canberra still leading the pack with 89.23%. Above 70% signifies a strong market. Above 80% tells us that us this is a rapidly moving market.