Auction volumes drop due to long weekend | The Real Estate Wrap with Leanne Pilkington

June 14, 2022 |
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Welcome to this week’s Real Estate Wrap with Leanne Pilkington, CEO of Laing+Simmons and Deputy President of the REINSW.

There were 552 auctions held across Sydney this week, compared to 912 over the previous week and 745 this time last year.

Of the 465 results collected so far, 58.1%were successful.

This was lower than last week’s preliminary clearance rate of 59%, which revised down to 53.3% at final figures, and is the lowest final clearance rate Sydney has seen since April 2020.

TRANSCRIPT:

Hey everyone, Leanne Pilkington with you for the latest Real Estate Wrap week commencing the 13th of June, which of course, was yesterday the Queen’s birthday weekend.

This week, we had 552 properties go to auction. Obviously, numbers are down because of the long weekend, preliminary clearance rate was 58.1%.

Last week, 912 properties went to auction, final clearance so to 53.3% which is our lowest clearance rate since April 2020. So, quite some time.

Across the country, 1,393 properties went to auction again impacted by the long weekend, preliminary clearance rate of 58.5%.

Pretty similar numbers to last June long weekend of last year of 1,413 properties across Australia.

Our lowest clearance rate in New South Wales was in Parramatta 39.3% and highest clearance rate was in the Southwest 73.1%. So, good results out there in the Southwest.

I hope you have an awesome week, take care.

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