A huge jump in registered bidders across the country saw 5.2 bidders sign up to bid on every lot across Ray White’s Australian auctions today.
To put that into perspective, that’s more than double the number of bidders at the same time last year.
Volume was also the highest it has been all year with 548 auctions scheduled nationally this week, up 30 year on year, with confidence rebuilding each week post-COVID.
The strong buyer interest propelled Ray White’s preliminary auction day clearance rate to 76 per cent nationally today.
Ray White NSW Chief Auctioneer Alex Pattaro said the last weekend of the financial year ended with a bang.
“Every single one of our key auction metrics are higher than the same time last year. Crowd attendance, auction day bidders and the clearance rates are all higher and points to the immense strength underpinning the fundamentals of the property market,” Mr Pattaro said.
“The Sydney market continues to defy any speculation of price contractions.”