The national auction clearance rate fell marginally over the weekend, but continued the record run of strong results.
The preliminary national clearance rate was 77.7%, down slightly from the 77.8% recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell by 2.6% to 83.9%, whereas Melbourne’s was 79.2%, up marginally from the 78.0% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 55.4%, which was up from the 51.2% recorded last weekend. However, overall auction volumes (2,207) were up on the 2,018 auctions recorded last weekend on account of the Queen’s Birthday long weekend:
As shown in the next chart, Melbourne auction clearances are locked at a high level, up 10.1% over the year:
Sydney’s clearance rate also remains stuck in the stratosphere, up 13.8% over the year:
