Sydney’s auction market tanks back to earth

Sydney’s auction market tanks back to earth

As late as the final months of October, the Sydney auction market was still riding high, with its 4-week moving average clearance rate still sitting significantly higher than the same time last year.

But in the weeks since, it has fallen back to earth, now sitting just 1.6% higher than at the same point last year.

The reason why historic results are used on a moving average basis and for the same time of year is due to seasonality. It is perfectly normal for auction clearance rates to deteriorate toward the end of the year, which is why comparing with the same weekend last year, one can attempt to cut through the seasonal noise.

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