THE COMBINED CAPITALS’ CLEARANCE RATE CONTINUES TO FALL AS VOLUMES SURGE

The combined capitals auction market experienced its second busiest week of the year, with 3,562 homes taken to auction. This is up 8.2% from the previous week when 3,292 homes when under the hammer. With volumes remaining high, the combined capitals’ preliminary clearance rate has continued to trend downward for the fifth consecutive week. With 2,933 results collected so far, 75.5% were successful, down from its recent peak of 84.4% week ending 3 October.  Last week reported a preliminary clearance rate of 76.1% which was revised down to 73.0% at final figures. This time last year 70.6% of the 1,728 auctions held were successful.

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