Auction activity steady amid lockdowns in Sydney, Melbourne

The auction markets across capital cities managed to record a steady clearance rate and level of activity despite the lockdown in Sydney and Melbourne.

There were 2,169 homes that went into auction over the weekend, which returned a preliminary clearance rate of 76.3%. This was similar to the results achieved over the previous weekend.

Despite the extension of the lockdown in Sydney, the city was able to record a higher activity compared to the preceding weekend, hosting 786 auctions. Sydney hit a clearance rate of 77.1% for these auctions.

Melbourne also posted a steady activity despite commencing a fifth lockdown, with 1,017 auctions that returned a clearance rate of 76.4%.

Across the smaller markets, Adelaide registered the highest clearance rate at 83.1% while Brisbane reported the busiest market with 160 auctions.

The table below shows the performance of each capital city:

From AustralianBroker

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