Core Logic-RP Data released its auction market report last night, which revealed that the national auction clearance rate rose ever so marginally over the weekend, continuing the record run of strong results.
The preliminary national clearance rate was 78.1%, up slightly from the 78.0% recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate rose by 1.0% to 84.5%, whereas Melbourne’s was 76.7%, down marginally from the 78.5% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 68.9%, which was up significantly from the 51.1% recorded last weekend. Overall auction volumes (1,626) were down significantly from the 2,205 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances are locked at a high level, albeit trending down slowly, up 4.3% over the year:
Sydney’s clearance rate also remains stuck in the stratosphere, up 12.1% over the year:
