Core Logic-RP Data released its auction market report yesterday, which revealed a slight improvement in the national auction clearance rate.
The preliminary national clearance rate was 77.7%, up marginally from the 77.0% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate rose by 0.1% to 82.7%, whereas Melbourne’s was 76.5%, up from the 74.9% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 66.0%, up slightly from the 65.4% recorded last weekend. Overall auction volumes (1,998) were up from the 1,766 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances are gradually trending down from a high level, but still up 8.0% over the year:
Sydney’s clearance rate is also slowly coming-down from the stratosphere, but is up 7.3% over the year:
Full RP Data auction report here.
