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As the weather has warmed up, so has the auction clearance rate.
Nationally, Ray White’s auction clearance has been rising for the past three week. In the week starting on August 14 the clearance rate was 54.2 per cent. It then rose to 58.6 per cent the next week and last week finished in the sixties at 60.5 per cent.
After sitting in the mid-threes for four weeks, Ray White’s bidder numbers are starting to trend up as well. Last week, the group finished on 4.1 registered bidders on average per auction. The average active bidder number has also risen slightly to 2.5 after five weeks of sitting below this.
Ray White New South Wales chief auctioneer Alex Pattaro said it’s been a really positive start to spring.
“The numbers continue to show some stability. Buyer activity continues to make its way to the market which is reflected in the number of active bidders,” he said.
“It will be interesting to see how interest rates affect the market. The rate rise in August didn’t really affect the market too badly.
“If anything we have seen better results compared to July.”
There were signs of good activity over the weekend as well. One auction at 12 Wishford Road, Elizabeth in Adelaide recorded 22 registered bidders. The sale was managed by Ray White Norwood’s Rajwant Singh.
