Property Market Updates – Page 8

Auction Update: 1st April 2019

Through March the largest auction markets have seen the clearance rate holding around the mid-to-low 50% range which is lower than the same time last year, but a substantial improvement relative to late 2018.While there has clearly been a seasonal bounce in the clearance rate, auction results are holding reasonably firm on higher volumes. The number of auctions is likely to rise further in the lead up to Easter; if we see the clearance rate continuing to hold around the mid-to-low 50% range it will be a strong sign that the fit between buyer and seller pricing expectations is becoming more balanced.