Home auction clearances bounce back

Posted by Simon Dehne on February 8, 2016 in Latest News with No Comments

House_auctionHousing auction clearance rates bounced back strongly last week, but the overhang of supply in Sydney, Perth and Darwin continued to build.
The proportion of homes being sold after being put up for auction last week in the state and territory capitals was 71.0 per cent, compared with 67.3 per cent in the same week of last year, according to figures on Monday from CoreLogic RP Data.
The previous week’s clearance rate of 59.4 per cent was low, but hardly unusual for late January – the clearance rate for the corresponding same week of last year was exactly the same.
A big recovery in clearance rates is normal for this time of year, as buyers and sellers return from holidays.
And the latest rebound is as strong as any in recent years.

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