Auctions clearances soften

Core Logic-RP Data released its auction market report yesterday, which posted a small fall in the national auction clearance.

The preliminary national auction clearance rate was 68.0% this week, down from the 70.0% clearance rate recorded last weekend, according to Core Logic-RP Data:

Sydney’s preliminary clearance rate rose by 0.6% to 75.0%, whereas Melbourne’s rose by 0.1% to 70.8%. Clearances in Brisbane, which typically only has a small number of auctions, fell by 15.1% to 40.2%, whereas Adelaide’s preliminary auction clearance rate fell by 17.5% to 52.6%. However, overall auction volumes were to 2,419 compared to 1,863 last week:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.