The national auction clearance rate rose again over the weekend, continuing the record run of results.
The preliminary national clearance rate was 79.2%, up from the 78.9% recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate rocketed by 3.6% to 90.1%, whereas Melbourne’s was 78.4%, up marginally from the 78.3% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 52.2%, which was up slightly from the 51.2% recorded last weekend. However, overall auction volumes (1,155) were down significantly on the 2,727 auctions recorded last weekend on account of the Queen’s Birthday long weekend:
As shown in the next chart, Melbourne auction clearances are locked at a high level, up 16.0% over the year:
Sydney’s clearance rate also remains stuck in the stratosphere, up 22.8% over the year:
