Subject: Auction market bounces back in the first week of May

⚡️ Highlights:

1. The first week of May saw an increase in both the volume of auctions and the preliminary clearance rate, with 1,643 homes going under the hammer across the combined capitals.

2. Despite the rise in the number of auctions held, activity is still lower compared to the same week last year due to the federal election.

3. Melbourne led in both the volume of auctions and the preliminary clearance rate, with a success rate of 74.4%, the highest since June 2023.

4. Sydney had 577 auctions with a preliminary clearance rate of 69.4%, the highest in seven weeks but still below the 70% mark for the seventh consecutive week.

5. The ACT had the highest preliminary clearance rate in eight weeks at 69.4%, while Brisbane had the second lowest rate of 50% for the year-to-date.

✍️ Caitlin Fono | Full Article

❤️ Sent with love,