Core Logic-RP Data released its auction market report yesterday, which posted a small rise in the national auction clearance rate, driven by Sydney.
The preliminary national auction clearance rate was 68.9% this week, up from the 67.5% clearance rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s preliminary clearance rate rose by 3.0% to 75.6%, whereas Melbourne’s fell by 0.6% to 70.6%. Clearances in Brisbane, which typically only has a small number of auctions, rose by 6.3% to 51.2%, whereas Adelaide’s preliminary auction clearance rate rose by 7.2% to 67.9%. However, overall auction volumes fell to 1,824 compared to 2,182 last week:
As shown in the next chart, Melbourne auction clearances were 7.7% lower than the same weekend last year:
However, Sydney’s clearance rate was 9.4% lower than the same weekend last year: