CoreLogic released its preliminary auction market report yesterday, which posted a jump in the preliminary national auction clearance rate but again with low volumes recorded.
The preliminary national auction clearance rate was 80.2% this week, up from the 77.9% recorded last weekend, and a big increase from the 64.9% recorded in the same weekend of last year:
Sydney’s preliminary clearance rate rose by 2.3% to 85.6%, whereas Melbourne’s rose by 4.3% to 81.8%. Clearances in Brisbane rose by 1.2% to 53.4%, whereas Adelaide’s preliminary auction clearance rate jumped by 9.5% to 77.4%. Overall auction volumes rose to 2,641 versus 2,405 last week. However, volumes were down 16% from the 3,143 recorded in the same weekend last year:
As shown in the next chart, Melbourne auction clearances were up by 12.1% versus the same weekend last year, although auction volumes were down 18%:
Sydney’s clearance rate was up by 24.3% against the same weekend last year, although auction volumes were down 15%:
