Combined capital city weighted clearance rate remains steady, showing buyer confidence continues.
The number of homes taken to auction this week fell slightly to 2,385, compared with 2,540 over the previous week. However, the preliminary clearance rate of 78.2 per cent has remained steady, down only slightly from 78.6 per cent last week. The overall strength across the combined capital city market is showing no sign of slowing down, with 13 of the 15 weeks in which auction results have been reported on so far this year seeing the clearance rate at, or above, 74 per cent. Over the corresponding week last year, the clearance rate was 65 per cent and 1,535 auctions were held.
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
