Auction activity picks up in week-by-week comparison

“Post-Easter week [saw] a rise in scheduled volumes; however, challenges remain as withdrawn numbers continue to weigh down success rates,” CoreLogic noted.

“Despite the increase in volumes over the week, the existing challenges around new policies banning onsite auctions and inspections are still impeding on activity across the auction market.

“As confidence remains low and circumstances uncertain, it’s expected that fewer vendors will elect auction as their preferred method of sale and either convert to private treaty method or hold off on selling all together and scheduled volumes will likely decrease over the coming weeks.”

The post-Easter weekend returned a preliminary clearance rate of 39.1 per cent, the CoreLogic data showed.

“Of the 356 properties that did report a sold result, 64 per cent sold prior to the auction date,” it added.

“According to initial results collected, 50 per cent of all results were recorded as being withdrawn.

“It’s important to note, however, the number of auction results collected at a preliminary stage is lower than usual as we seek to confirm the status of scheduled auctions.”

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