Auction volumes slide in first week of April

By |

A total of 1,978 homes across the combined capital cities went under the hammer during the first week of April, returning a preliminary auction clearance rate of 57.2%, according to CoreLogic.

Auction volumes were slightly lower than the previous week’s 2,164, which had a final clearance rate of 50.9%— making it the third consecutive week where the clearance rate has held above 50%. The week will likely record a similar outcome as remaining results are collected.

Over the same time in 2018, fewer auctions were held – just 1,839.  However, the clearance rate was stronger at 62.8%.

Melbourne was one of the busiest auction markets this week in terms of volume, with 899 auctions held across the city. It posted a preliminary auction clearance rate of 58.1%— down from last year’s 68.2%, when the city held 723 auctions.

Over the past week, 978 auctions were held across the city with the final clearance rate of 52.1%.

CoreLogic also reported that 740 homes were taken to auction in Sydney, down from 801 last week. The preliminary clearance rate came in at 61.9% this week— up from 54.3% last week. However, this figure will track downwards over the week, according to the data services provider.

The final clearance rate in Sydney has held above 52% for the last five weeks. During the same period last year, a clearance rate of 62.9% was recorded across 795 auctions.

Across the smaller auction markets, Canberra, Perth, and Tasmania registered an increase in the number of homes taken to auction this week, while Adelaide and Brisbane posted lower volumes week on week.

Do you have more than $200k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : padbury , millner , wentworthville , wallsend , rockville

SHARE

Get help with your investment property



Do you need help finding the right loan for your investment?


When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here