Weekly auction clearances – 30 November 2020

The national property market finished off spring with a bang with a nationwide combined clearance rate of 73.93%.
Some other notable points from the weekends auctions:
  1. Melbourne has overtaken Sydney retaking its position as the auction capital of Australia holding the most auctions on the weekend of any capital city. A clear sign that the Melbourne market is recovering as vendors gain confidence and sentiment surges.
  2. The resilience of the Canberra market continues to shine through, with its heavy reliance on public service employment providing extra insulation during the Covid period, recording the highest clearance rate of the weekend of 78.35%.
  3. New listings volumes have soared since onsite inspections resumed on the 28th of September in Melbourne from 1,606 to 6,974 from September to October.

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