The national auction clearance rate fell again over the weekend on the back of falls in Melbourne and Brisbane.
According to RP Data, the national weighted average preliminary auction clearance rate was 66.6% over the weekend, which was down 1.1% from the 67.7% preliminary clearance rate reported last weekend. Sydney’s clearance rate rose by 0.9% to 75.2%, whereas Melbourne’s fell to 63.7% (last weekend 64.9%). Brisbane, which typically only has a small number of auctions, experienced a big fall in its clearance rate (down 6.3% to 45.9%). Overall auction volumes (3,353) were up slightly on last weekend’s 3,294.
The trend in the national clearance rate is down and hovering around the same level as this time last year (see next chart).
The Real Estate Institute of Victoria reported a preliminary clearance rate of 65% on 1,181 auctions reported to the REIV, which was down from the 67% on 1,073 reported auctions recorded last weekend.
For Sydney, APM reported a preliminary clearance rate 75% on 648 reported auctions, which was up from the clearance rate of 73% recorded on 632 auctions last weekend.
