Auction Clearance Rates Soar


Capital cities across the country had the second busiest week of auctions for the year, with a clearance rate of 76% in Sydney (up from 47% this time last year). Auction commentator Kevin Brogan from Core Logic said the increase in auctions and sales was a sign of more movement to round off the year.


“What we have seen is the second biggest auction week for the year but looking ahead, I would anticipate that we are going to see a reasonably busy December. You are going to get three full auction weeks in December before Christmas and I expect volumes would be reasonably strong.”


When it comes to auctions though there is always the question of In Rooms or On Site, and what is better. Cooley Auctions reported over one week in November, they held 64 In Room auctions with a clearance rate of 78% (above the Sydney average), vs 57 On Site auctions with a clearance rate of 63%.


“The in-room numbers aren’t lying. The clearance rate for in-room auctions has been higher than it has for on site. Our point is, you don’t have to sell your house on site, you can auction the property in a room environment which is conducive for great results,” says Damien Cooley.


Only Belle Property Illawarra can guarantee Damien Cooley as your auctioneer, working exclusively with us in the Illawarra region, at our dedicated Auction Centre. Contact us today to find out more.