- Made glorious by softening market conditions;
- And all the inflation clouds that lour'd upon our house
- In the deep bosom of Covid buried.
Now are our brows bound with victorious SOLD stickers;
Our bruised wallets hung up for monuments;
Our stern housing hysteria changed to merry meetings,
Our dreadful home inspections to delightful house warmings.
Well, that’s certainly the hope of those who take auction volumes reaching their lowest since early February as confirmation of a market softening and slow down – and a little Friday literary fun too.
Domain (ASX: DHG) said that across the combined capitals, auction volumes moved 4.5% down from last week to 1,330, making it the lowest since early February (excluding public holidays and federal election weekend).
In CoreLogic’s auction preview, 1,679 homes are scheduled for auction across the combined capitals. The company noted auction activity moved down 10.7% to the previous week and down 20.2% from the same time last year.
Annually, Domain data puts the change in auction volume to a downward movement of 30%.