If you’re thinking of selling your property at auction, you’ll want to know what clearance rates are and how they can affect your sale.
TLDR; Clearance rates are a measure of how many properties are sold during an auction at or above the asking price in a particular market:
If clearance rates are high, this means that there is high demand for property and prices are likely to be rising.
If clearance rates are low, this means that there is less demand for property and prices are likely to be falling.
A good clearance rate is 70% or above.