Auction Clearance Rates Drop As The Market Adjusts To New Policies Banning On-site Auctions

Auction Clearance Rates Drop As The Market Adjusts To New Policies Banning On-site Auctions

Rebecca.Lauder…
Mon, 03/30/2020 – 08:52

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Summary
This week was set to be the busiest week of the year with 3,203 homes scheduled for auction across the combined capital cities. With the disruption of new policies preventing on-site auctions, the auction withdrawal rate surged over the weekend, with 40 per cent of auctions pulled from the market, up from 7.5 per cent a week earlier.