Trump’s tariffs have not dented a resurgent property market

IT was a case of calm before the storm for auction markets after Donald Trump’s Liberation Day tariffs were announced.

The threat of a trade war had little impact on the housing market with the preliminary clearances rates increasing in most capital cities.

CoreLogic head of research Tim Lawless said the fact that “most cities” recorded a rise in the preliminary clearances rate this week “demonstrating a broad-based improvement in auction results despite the uncertainty of US tariff announcements and the subsequent volatility in global share markets through the week.”

While the 2,532 auctions that were held over the past week was down from 2,873 the week before, he added: “Auction numbers are set to bounce higher next week, rising to around 2,860 in the week prior to the Easter long weekend.”

The preliminary auction clearance rate strengthened this week, rising to 70.7 per cent, according to the analyst.

That is the highest result in six weeks and the first time the combined capitals preliminary clearance rate has been above the 70 per cent mark since the week ending February 23rd earlier this year.

Melbourne hosted the most auctions this week, with 1,192 homes going under the hammer.

It had its highest early clearance rate since July last year.

The 943 homes that were auctioned in Sydney had a preliminary clearance rate of 69.1 per cent.

That was up from 65.5 per cent on the week prior but still well below the mid-February high point when the early clearance rate reached 76.6 per cent.