Core Logic-RP Data released its auction market report yesterday, which revealed a rise in the national auction clearance rate.
The preliminary national clearance rate was 77.0%, up from the 75.7% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell by 1.0% to 77.8%, whereas Melbourne’s was 78.6%, up from the 76.8% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 61.8%, up from the 60.6% recorded last weekend. Overall auction volumes (2,378) were up significantly from the 1,862 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 9.0% over the year:
Sydney’s clearance rate is also slowly coming-down from the stratosphere, but is up 3.1% over the year:
Full RP Data auction report here.