Mixed Day For Auction Results as Holidays Distract Markets

Weekend auction markets were impacted by long weekend holidays in Melbourne, Adelaide and Canberra with predictably low listing numbers producing volatile results. Andrew Wilson

Sydney and Brisbane however were exceptions to the holiday distractions with Sydney’s clearance rate yet again holding above 60% with Brisbane’s result higher than recorded the weekend before.

Despite the usual holiday excuses, auction numbers in all capitals continue to be well below the levels recorded over the same weekend last year, with sellers generally still somewhat wary to engage the market.

All auction markets will be up and running at full speed next weekend and although Sydney and Melbourne clearance rates have remained relatively stable over the past month and tracking certainly higher than where they finished 2018, sharply lower listings numbers across the board this year are perhaps a contributing factor to these better results.

Although a sale is a sale is a sale.

 

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About

Dr Andrew Wilson, of www.MyHousingMarket.com.au is Australia’s leading property economist.


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