Core Logic-RP Data released its auction market report last night, which revealed a slight weakening in the national auction clearance rate.
The preliminary national clearance rate was 76.2%, down from the 78.1% recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell by 3.5% to 81.0%, whereas Melbourne’s was 78.2%, up from the 76.7% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 53.6%, which was down significantly from the 68.9% recorded last weekend. Overall auction volumes (1,669) were largely flat from the 1,626 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances are gradually trending down from a high level, up 11.8% over the year:
Sydney’s clearance rate is also slowly coming-down from the stratosphere, up 5.4% over the year:
