As the auction market is warming up earlier than in previous years, the rate of housing change is even faster than the end of 2020. According to data from CoreLogic, the initial clearance rate across Australia rose to 81%, and as many as 891 houses were sold.
There are 388 units ready for auction in Melbourne. CoreLogic pointed out that the final clearance rate is usually lower, but it may still be higher than 61% of the 625 auctions nationwide a year ago. SQM Research senior analyst Louis Christopher expects that the final clearance rate will fall at a high of 60%, which is a very strong signal for this period.
This auction is the first auction of this three-bedroom house since its completion in 1957. Due to the enthusiastic willingness during the event, the auction time was advanced a week. Conor Arnold, head of sales agent R&W Ryde City, said that potential buyers come from all over Sydney, including the southern suburbs of Hurstville and Rockdale, and Wentworth Point.
https://www.afr.com/property/commercial/auctions-back-in-action-earlier-and-stronger-20210131-p56y58