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Auction volumes yet to pick up for spring season

Auction volumes are still lagging behind as Australia heads into its spring selling season.

Auction volumes are still lagging behind as Australia heads into its spring selling season.

This is according to RP Data, which shows that there are 1,391 auctions scheduled across the capital cities over the coming week.

In comparison to last week this is a decrease from 1,454, however the clearance rate remains strong at 72.7 per cent during this time.

Despite any reductions in volumes or sales, it appears that these figures show a far healthier auction market than this time last year.

Then, both the auction volume and clearance rate were lower, at 1,116 auctions and just over 50 per cent clearance rate.

Melbourne and Sydney are scheduled to hold fewer auctions this coming week in comparison to the previous fortnight, but preliminary clearance rates are forecasted to remain strong.

While peaks and troughs in the performance and number of auctions exists among the Australian property market it appears that it is exhibiting positive long-term results.

Posted by Steve Douglas

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