What every buyer needs to know about auction clearance rates
The widely followed metric is often seized upon for clues over the direction of the market, but isn’t always a good indicator of when to buy or sell.
In property-obsessed Australia, knowing when to buy or sell a home is often the difference between getting an average or great result at auction, with clearance rates one key indicator of the market’s overall health.
The preliminary clearance rate is reported every Saturday and shows the percentage of properties sold at auction versus those that failed to find a buyer at the asking or reserve price agreed between sellers and their agent.
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