The combined capital city auction market is expected to see a slight increase in auction volumes this week.
CoreLogic has released its March Quarter Property Market & Economic Review, Eliza Owen Head of Research Australia provides insights around the state of housing before the onset of COVID-19 as well as an assessment of what is ahead.
The combined capital cities returned a preliminary auction clearance rate above 70% this week, which was the highest preliminary result we’ve seen since early March.
There are 472 capital city auctions being tracked by CoreLogic this week, increasing on the 417 auctions last week.
This week, 400 capital city homes were scheduled for auction, with preliminary results returning a 64.0 per cent clearance rate.
The number of homes scheduled for auction continues to trend lower, with only 365 auctions to take place this week, lower than the 480 auctions last week.
The combined capital city preliminary auction clearance rate bounced back above 60% for the first time since late March, with 64.5% of homes selling this week.
Temporary bans in on-site auctions have led to significant shifts in the auction data. Here is a breakdown of the statistics, and how to interpret them.
There are 424 capital city homes scheduled for auction this week, down on the 612 homes auctioned last week.
The cash rate was unchanged at today’s RBA board meeting, holding at the record low of 0.25%, which is where it’s likely to stay until at 2023.
This week, 590 capital city homes were scheduled for auction, with preliminary results returning a 59.6 per cent clearance rate.
According to the CoreLogic Home Value Index results out today, Australian housing values have not seen any evidence of a material decline in April, despite a sharp drop in market activity and a severe weakening in consumer sentiment.