The auction clearance rate in Australia’s biggest auction market – Melbourne – recorded a reasonable result over the weekend, with 65% of the 443 auctions reported to the REIV selling, with only 10 auctions listed as “no result” (see below table).
The result compares to the 68% provisional clearance rate rate recorded on “Super Saturday’s” auctions in the week prior to the Easter break and 58% in the same weekend last year (albeit on skinny volumes).
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Auction results for Sydney are typically more difficult to decifer. However, Residex reported a clearance rate of 68% based on 84% of recorded auction sales, whereas APM reported a clearance rate of 69% on 455 reported auctions.
