Sydney Auction Results and Clearance Rates
Whether you are buying or selling a home or investment property in Sydney you will be interested in keeping an eye on the latest Auction Results and clearance rates.
It’s important to track clearance rates, as they are a good indicator of the strength of a property market. A low auction clearance rate usually points to the market being a buyer’s market, while a high clearance rate indicates the opposite – a seller’s market & a strong market.
The auction clearance rate is calculated by dividing the total number of properties sold at auction (or directly before or after) by the number of auctions reported. Each week this figure is calculated using the results submitted by real estate agents from the weeks auctions.
Care is needed in interpreting clearance rates as the rate does not reflect differences in performance in suburbs and areas within the Sydney market.