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Auction activity slows for Anzac Day

A combination of Anzac Day commemorations and ongoing on-site auction restrictions saw just 431 properties go to auction across the capitals this week, with results only available for 223 of the properties as of Monday.

CoreLogic results indicate volume was down on the 1,922 properties auctioned the previous week as the nation stopped to remember the Anzacs on Saturday and with social restrictions still enforce across much of the country.

“Of the 223 results collected, a success rate of 40.5 per cent was returned with 44 per cent reportedly being withdrawn,” CoreLogic noted.

“According to preliminary results, 56.5 per cent of the 92 sold results had sold prior to the scheduled auction date.”

However, CoreLogic cautioned preliminary results for the weekend may not accurately reflect the actual volume of sales.

“As we’ve seen over the last few weeks, the number of auction results collected at a preliminary stage are lower than usual as we seek to confirm the status of scheduled auctions so results should be interpreted with caution,” CoreLogic said.

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Cassandra Charlesworth

Cassandra Charlesworth is a features writer for Elite Agent Magazine with over 15 years’ journalism experience in metropolitan and regional newsrooms. She has a specialist interest in real estate, tech disruption and a good old-fashioned “yarn”.