Core Logic-RP Data released its auction market report last night, which revealed a slight improvement in the national auction clearance rate.
The preliminary national clearance rate was 77.0%, up marginally from the 76.2% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate rose by 1.6% to 82.6%, whereas Melbourne’s was 74.9%, down from the 78.2% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 65.4%, which was up significantly from the 53.6% recorded last weekend. Overall auction volumes (1,766) were up from the 1,669 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances are gradually trending down from a high level, but still up 6.4% over the year:
Sydney’s clearance rate is also slowly coming-down from the stratosphere, up 7.4% over the year:
