Core Logic-RP Data released its auction market report yesterday, which posted a small decline in the national auction clearance rate.
The preliminary national clearance rate was 74.9%, down from the 75.4% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s clearance rate fell by 0.1% to 78.0%, whereas Melbourne’s was 76.2%, down from the 77.0% clearance rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 50.6%, down from the 58.2% recorded last weekend. Overall auction volumes (2,272) were up down significantly from the 2,583 auctions recorded last weekend:
As shown in the next chart, Melbourne auction clearances continue to trend down slowly, and 0.5% below the same weekend last year:
Sydney’s clearance rate is also coming down from the stratosphere, and is down 2.1% over the year:
Full RP Data auction report here.
