Core Logic-RP Data released its auction market report yesterday, which revealed a small decline in the national auction clearance rate.
The preliminary national clearance rate was 75.7%, down from the 77.7% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell by 3.9% to 78.8%, whereas Melbourne’s was 76.8%, up from the 76.5% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 60.6%, down from the 66.0% recorded last weekend. Overall auction volumes (1,862) were down slightly from the 1,998 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances are gradually trending down from a high level, but are still up 7.8% over the year:
Sydney’s clearance rate is also slowly coming-down from the stratosphere, but is up 2.1% over the year:
Full RP Data auction report here.
