Towards the end of June and the start of July, clearance rates in Melbourne sat in the low 60 per cent range. By the week ending July 12, it sat at 51.2 per cent. The following week, the final clearance rate was 43.8 per cent.
Not surprisingly, the Melbourne clearance rate during this second wave is similar to that of the first: between March 25 through to early May.
This is all according to fresh analysis from CoreLogic. With auctions held remotely, and appointment-only inspections, it is feared we haven’t seen the worst of it.
Withdrawn properties peaked at 64.7 per cent over the week ending April 12.
With 209 of the 498 schedules auctions last week withdrawn, it looks like this weekend will yield similar results. And possibly it will extend to the week after that. And the week after that…
