Core Logic-RP Data released its auction market report yesterday, which revealed a small fall in the national auction clearance rate.
The preliminary national clearance rate was 76.3%, down slightly from the 77.0% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate rose by 2.5% to 80.3%, whereas Melbourne’s was 76.5%, down from the 78.6% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 60.2%, down from the 61.8% recorded last weekend. Overall auction volumes (2,103) were down significantly from the 2,378 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances are gradually trending down from a high level, but are still up 3.2% over the year:
Sydney’s clearance rate is also slowly coming down from the stratosphere, but is up 4.1% over the year:
Full RP Data auction report here.
