Illawarra auction clearance rate at 50% compared to the national preliminary rate at 65.3%

The preliminary auction clearance rate came in at 65.3% last week, up slightly from the week prior (64.1% which was revised down to 57.3% on final figures) but below the spring season average to date of 66.7% and the eleventh week in a row where the early success rate has been below the 70% mark.

2,577 auctions were held last week, down from 2,898 the week prior. The volume of auctions looks set to rise this week, with around 2,750 auction campaigns currently being tracked by CoreLogic.

For the first time in four weeks, the volume of auctions in Sydney has dropped below the 1,000 mark, with 984 auctions held across the city. The preliminary clearance rate came in at 68.4%, up 5 percentage points from the previous week’s 63.4% early clearance rate, which was revised down to 57.9%. Property Market Indicator, Property Pulse, Research News   •   25 Nov 2024