Core Logic-RP Data released its auction market report yesterday, which posted a flat result nationally but a collapse in the clearance rate in Sydney.
The preliminary national clearance rate was 63.7%, up marginally from the 63.3% rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s preliminary clearance rate fell a further 1.6% to 61.9%, whereas Melbourne’s was 69.3%, up from the 65.4% rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 42.2%, up from the 58.2% recorded last weekend. Overall auction volumes (2,898) were up significantly from the 2,493 auctions recorded last weekend, which were affected by the Spring Racing Carnival in Melbourne:
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