Cold Start to Nation’s Normally Hot Home Sales Season
Australia’s peak property season has opened with a whimper, featuring low stock and lacklustre auction success rates. Capital cities hosted just 1462 auctions in the first week of spring—more than 30 percent down on the figure for a year earlier. The combined preliminary clearance rate hit 52.7 percent, just 0.4 points above the winter average, […]
Australia’s peak property season began with low auction numbers and lackluster clearance rates across capital cities, showing a significant decrease compared to the previous year. Despite the slow start, research director Tim Lawless anticipates an increase in auction activity throughout September. Sydney and Melbourne showed some positive signs with preliminary clearance rates reaching higher figures.
- Australia’s peak property season opened with low stock and weak auction success rates.
- Capital cities saw 1462 auctions in the first week of spring, over 30% less than the previous year.
- The combined preliminary clearance rate was 52.7%, slightly above the winter average.
- Auction activity is expected to increase in the coming weeks.
- Sydney and Melbourne recorded higher preliminary auction clearance rates.
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