And So It Begins

Auction Update airs every Friday at 3:00 pm (Sydney time), LIVE on Facebook, Twitter and YouTube.

• Restrictions impact activities
• Agents explore new ways
• We hold our breath

Last week

Last week, auction volumes across the combined capital cities reached their second-highest level this year with 2,599 homes taken to market. The higher volumes combined with uncertainty around COVID-19 saw the final auction clearance rate fall to the lowest level since June last year returning a 56.9% success rate.

This week and weekend

There are 3065 Capital city properties scheduled to go under the hammer this week. The release of a new policy by the Federal Government relating to open homes and public auctions is already showing signs of dramatically impacting the industry. There is likely to be a number of sellers who will withdraw their property from the market completely or postpone until circumstances improve.

Watch for Kevin Brogan’sthoughts about the weekend ahead and the numbers around the country and then join him on Monday as he gives the most comprehensive national roundup of the full week’s activity and a look inside the top sales in 6capital cities.