The Easter long weekend resulted in the auction slowdown that had been widely predicted, with Domain the only data provider reporting results.
In total they tracked just 134 auctions across the major capitals, with 48.4 per cent proving successful based on the 62 auctions which have returned results so far.
They note 30 properties sold under the hammer (to the value of $24 million) in the major capitals, while 17 properties were withdrawn.
Last week, Domain reported a final clearance rate of 65 per cent after tracking 3160 auctions.
Results were provided for 2714 of those auctions, with 1765 properties selling (to the value of $1567.9 million), while 351 properties were withdrawn.
This time last year, the major capital clearance rate was 74.6 per cent after 2010 properties were taken to auction on a weekend that did not coincide with Easter.
Results were provided for 1986 of those auctions, with 1482 properties selling (to the value of $1896 million), while 238 properties were withdrawn.
Sydney
Sydney’s preliminary clearance rate this week was just 50 per cent after only 85 properties went to auction.
So far, results are in for 42 of those auctions, with 21 properties selling (to the value of $20.1 million), while 12 properties were withdrawn.
Last week, Sydney’s final clearance rate was 62.5 per cent after 1216 properties went to auction.
Results were provided for 1036 of those auctions, with 647 properties selling (to the value of $682.5 million), while 212 properties were withdrawn.
This time last year, Sydney’s clearance rate was 78.1 per cent after 767 properties went to auction.
Results were provided for 755 of those auctions, with 590 properties selling (to the value of $981.3 million), while 95 properties were withdrawn.
Melbourne
Melbourne’s preliminary clearance rate was 33.3 per cent this week after 26 properties went to auction.
Results were provided for 12 of those auctions, with four properties selling (to the value of $3.1 million), while three properties were withdrawn.
Last week, Melbourne’s final clearance rate was 63.4 per cent after 1504 properties went to auction. Results were provided for 1337 of those auctions, with 848 properties selling (to the value of $705.4 million), while 120 properties were withdrawn.
This time last year, Melbourne’s final clearance rate was 71.6 per cent after 1043 properties went to auction.
Results were provided for 1029 of those auctions, with 737 properties selling (to the value of $760.4 million), while 129 properties were withdrawn.
