The national auction clearance rate has started the year on a softer note, with clearances trending down and lower than the same time last year (see next chart).
Nevertheless, over the weekend, Core Logic-RP Data recorded a national weighted average preliminary auction clearance rate of 66.9%, which was up 10.1% from the 56.8% clearance rate recorded last weekend. Sydney’s clearance rate rose by 13.8% to 80.5%, whereas Melbourne’s fell to 61.4% (last weekend 67.3%). Brisbane, which typically only has a small number of auctions, experienced a small rise in its clearance rate (up 2.5% to 45.6%). Overall auction volumes (954) were also up significantly on last weekend’s 403.
The Real Estate Institute of Victoria reported a preliminary clearance rate of 61% on 412 reported auctions.
For Sydney, Domain (formerly APM) reported a preliminary clearance rate 82% on 256 reported auctions.
