Core Logic released its auction market report yesterday, which posted a small fall in the national auction clearance rate on weak volumes.
The preliminary national auction clearance rate was 70.7% this week, down from the 71.6% clearance rate recorded last weekend, according to Core Logic:
Sydney’s preliminary clearance rate fell by 0.9% to 75.3%, whereas Melbourne’s fell by 4.9% to 72.4%. Clearances in Brisbane, which typically only has a small number of auctions, rose by 6.4% to 53.2%, whereas Adelaide’s preliminary auction clearance rate rose by 19.5% to 71.8%. Overall auction volumes fell to 1,295 versus 1,378 last week. Moreover, volumes were down significantly from the 2,143 recorded at the same weekend last year:
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