Homebuyers back in game
The auction market is continuing to bounce back, with the easing of coronavirus restrictions leading to ‘steady’ clearance rates and increasing consumer confidence.
The auction market is continuing to bounce back, with the easing of coronavirus restrictions leading to “steady” clearance rates and increasing consumer confidence.
Despite a lower overall volume of auctions due to the long weekend, city markets had a preliminary clearance rate of 59.9 per cent, only marginally lower than last week’s 61.3 per cent.
CoreLogic residential market commentator Kevin Brogan said compared to the June long weekend last year, there were more auctions scheduled for the same time this year.
“I think this is a fairly steady result,” Mr Brogan said. “Buyer participation will impact on results, particularly on a long weekend where people make other plans and don’t go to auctions,” he said.
The Sydney market returned a 62.2 per cent success rate after 388 homes were scheduled for auction.
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