Auction Slowdown Ahead Of Xmas
The number of properties listed for auction has dropped in what is considered the last week of auctions for 2023.
CoreLogic figures show 2900 homes were listed for auction last week across the capital cities, a 4.1%, drop on the previous week, but still almost 26% higher than at the same time last year, which it says shows vendors have been much more active this spring.
Auction clearance rates have also dropped nationally to 66.8%. Adelaide once again had the highest clearance rate of 81.7% followed by Melbourne, 66.9% and Canberra, 65.9%.
Sydney recorded a clearance rate of 65.5%, while Brisbane was 56.3%.
According to CoreLogic the end of the spring and early summer selling auction season has seen buyers benefit from more choice, less urgency and greater leverage at the negotiation table amid higher advertised supply levels.
Total listings across the property market are starting to increase with 17,656 new listings across the combined capital cities in the past four weeks, which is 6.8% higher than at the same time last year.
