Core Logic-RP Data released its auction market report yesterday, which revealed an ongoing deceleration in the national auction clearance rate.
The preliminary national clearance rate was 74.1%, down from the 76.3% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell by 0.4% to 79.9%, whereas Melbourne’s was 73.0%, down from the 76.5% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 54.8%, down from the 60.2% recorded last weekend. However, overall auction volumes (2,192) were up slightly from the 2,103 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances are trending down from a high level, but are still up 2.3% over the year:
Sydney’s clearance rate is also coming down from the stratosphere, but is up 3.8% over the year:
Full RP Data auction report here.
