Sydney and Melbourne both present strong auction clearance rates as they enter the Easter long weekend. Melbourne outperformed Sydney with 1,100 more auctions over the first quarter of 2019 at 6,375 and 5,278 respectively.
Corelogic data suggests the combined capital city auction clearance rate is up by 6.6 percentage points over the March 2019 quarter, compared with Q4 2018. Fewer auctions occurred over the same period, resulting in higher closure rates.
“You only need to look at the data, ” says Property TV’s Head of Industry, Simon Cashman. “Auction clearance rates are showing signs of recovery and this Easter could very well be the start of the positive swing,” Cashman adds.
After months of decline, Corelogic’s Quarterly Auction Market Review shows a trend in the right direction. Led by strengthening markets in Sydney & Melbourne, the Australian auction clearance rates appear to be moving in the right direction.
Image: Corelogic.
Simon Cashman is the most recent addition to the Property TV team, joining the group after leading Better Homes & Gardens Real Estate entry into Australia. “I spent many years in film and television before I got into Real Estate and now I get to combine all my skillsets as Property TV’s Head of Industry,” says Cashman. “Property TV, or as its becoming known – pTV, is proving itself as the ‘go to’ place for property industry and related visual content, accessible by anyone to enjoy at home or on the run.” he adds.
Corelogic airs Auction Update each Monday & Friday LIVE on Facebook, YouTube and the Property TV website. It is the best place to learn first hand of the weekend’s upcoming auctions on Friday and the closure rates each Monday. This is just one of the shows available 24/7 on Property TV.
