Auction clearances still ripping

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From RPData:

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A combined capital city clearance rate of 79 per cent, the third strongest on record, shows auction strength continues into May. This week there were 2,419 capital city auctions held and the preliminary clearance rate was 79.0 per cent, a good start to May, following on from last week’s record result (82.3 per cent) across the capital city auction markets, when just 604 auctions were held. This week’s preliminary clearance rate is the third strongest combined capital city clearance rate on record, topped only by last week’s clearance rate and the 79.7 per cent recorded in mid-September 2009. At the same time last year, 2,053 homes were taken to auction and the clearance rate was 63.2 per cent.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.