Core Logic-RP Data released its auction market report yesterday, which posted a small rebound in the national auction clearance rate.
The preliminary national clearance rate was 75.4%, up from the 74.1% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell by 1.8% to 78.1%, whereas Melbourne’s was 77.0%, up significantly from the 73.0% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 58.2%, up from the 54.8% recorded last weekend. However, overall auction volumes (2,583) were up significantly from the 2,192 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances continue to trend down from a high level, but are still up 3.5% over the year:
Sydney’s clearance rate is also coming down from the stratosphere, and is down 1.8% over the year:
Full RP Data auction report here.
