Cold Start to Nation’s Normally Hot Home Sales Season
Australia’s peak property season has opened with a whimper, featuring low stock and lacklustre auction success rates. Capital cities hosted just 1462 auctions in the first week of spring—more than 30 percent down on the figure for a year earlier. The combined preliminary clearance rate hit 52.7 percent, just 0.4 points above the winter average, […]
TL;DR
- Australia's peak property season opened with low stock and weak auction success rates.
- Capital cities saw 1462 auctions in the first week of spring, over 30% less than the previous year.
- The combined preliminary clearance rate was 52.7%, slightly above the winter average.
- Auction activity is expected to increase in the coming weeks.
- Sydney and Melbourne recorded higher preliminary auction clearance rates.