The national auction clearance rate fell marginally over the weekend, but continued the record run of turbo-charged results.
The preliminary national clearance rate was 77.8%, down slightly from the 79.2% recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell by 3.6% to 86.5%, whereas Melbourne’s was 78.0%, down marginally from the 78.4% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 51.2%, which was down slightly from the 52.2% recorded last weekend. However, overall auction volumes (2,018) were up significantly on the 1,155 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 8.8% over the year:
Sydney’s clearance rate also remains stuck in the stratosphere, up 17.2% over the year:
