Canberra Auction Report Card: June 2019

Canberra’s auction clearance rate for June 2019 was 48 per cent, with its clearance rate just under 50 per cent throughout 2019.

Canberra’s property market has been soft in 2019 but, following the end of election uncertainty and interest rate cuts, clearance rates are likely to rise marginally and prices are likely to stabilise. The number of auctions each week was lower than in June last year. 

The reporting rate for June is currently 92 per cent (more results will be collected in the coming weeks) following a reporting rate of 95 per cent in May.

Canberra: June clearance rates

The number of properties withdrawn before auction has fallen a little recently

The proportion of auctions being withdrawn was 6 per cent in June following a 7 per cent withdrawal rate in May.

The share of properties being sold prior to auction was 10 per cent in June, which is around the average rate over the past 12 months.

Securing a sale post-auction

May’s 49 per cent clearance rate rose to 53 per cent when including the sales secured within a two-week timeframe of the failed auction, increasing to 62 per cent within six to eight weeks (which is likely to increase as more results come in).

ACT District performance