The national auction clearance rate slipped over the weekend after the strongest run of results for around six years.
The preliminary national clearance rate was 76.4%, down from the 78.2% recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell 1.2% to 85.5, whereas Melbourne’s fell by 3.2% to 74.3%. Clearances in Brisbane, which typically only has a small number of auctions, were 53.7%, down 55.5% last weekend. Overall auction volumes (2,127) were also down slightly on the 2,385 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances have fallen significantly over recent weeks, although they are still up 5.5% over the year:
By contrast, Sydney’s clearance rate remains in the stratosphere, up 15.9% over the year:
