AUCTION INSIGHTS
At the beginning of this year , clearance rates exhibited an upward trend , surpassing the rates observed in 2023 and approaching the elevated levels seen in 2022 . However , in the past month , we have observed a decline in these rates . Specifically , the May results indicate a clearance rate of 69.9 per cent , down from 70.5 per cent in the previous month and sit below 2023 results .
Nationally , the outcomes do vary . Prime quality , affordable assets continue to achieve significantly higher clearance rates , reflecting the price pressures experienced in both the housing and unit markets .