Auctions across the combined capital cities came in at a preliminary count of a very subdued 636 homes which were scheduled over the Easter week. 

So far, 472 results have been collected returning a preliminary auction clearance rate of 29.3 per cent, dragged down by a withdrawal rate of 57 per cent as the auction market continues to face challenges around social distancing measures banning on-site auctions.  

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Source: CoreLogic

Of the sold results this week, 63 per cent sold prior to the scheduled auction date.  

The low volumes over the week are not unusual as we have historically seen, Easter weekend is one of the quietest weeks of the year, however the clearance rate is the lowest preliminary result recorded since CoreLogic commenced auction reporting in 2008. 

It’s likely as more results are collected that the final clearance rate will come in even lower and withdrawal rates higher.

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Source: CoreLogic

Looking forward, CoreLogic said they are expecting the withdrawal rate to ease as fewer auctions are scheduled, with vendors preferring private treaty methods of sales, or preferring to defer their listing until some certainty returns to the market and economy.

Sydney

With a total of 410 auctions Sydney recorded a clearance rate of 31.1 per cent.

Melbourne

With 92 auctions, the clearance rate was 16.7 per cent.

Canberra

With 42 auctions, the capital city saw a clearance rate of 43.5 per cent.

Brisbane

There were 40 auctions in Brisbane which saw a 21.9 per cent clearance rate

Adelaide

There were also 40 auctions in Adelaide which had a better clearance rate at 30 per cent

Perth

Perth had the smallest number of auctions at 9, but the highest recorded clearance rate at 50 per cent.

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