Capital cities see lower clearance rates as volumes decline

Capital cities see lower clearance rates as volumes decline
By Bianca Dabu
17 May 2021
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1 minute read
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Auction activity continued to trend lower, clocking a fourth consecutive week-on-week drop in clearance rates nationally, new data has revealed.
Latest figures from CoreLogic found that 2,892 homes were taken to auction across the combined capital cities in the week ending 16 May 2021. Of the 2,454 results collected so far, 79 per cent were successful.
In comparison, the previous week saw a higher 3,016 homes taken to auction, which returned a preliminary clearance rate of 78.6 per cent, later revised down to a final figure of 77.2 per cent.
One year ago, only 60.4 per cent of 417 auctions recorded a successful result due to ongoing COVID-19 restrictions.

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