Auction clearances highest on record

The national auction clearance rate set an all time record over the weekend, although volumes were low on account of Anzac Day.

The preliminary national clearance rate was an unprecedented 84.3%, up from the 79.2% recorded last weekend, according to Core Logic-RP Data, from RP Data:

Sydney’s clearance rate surged 2.8% to 91.1%, whereas Melbourne’s rose by 8.7% to 87.4%. Clearances in Brisbane, which typically only has a small number of auctions, surged to 90.9% from 48.3%. However, overall auction volumes (550) were down sharply on the 2,541 auctions recorded last weekend, on account of Anzac Day.

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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.