Auction clearances firm

Core Logic-RP Data released its auction market report yesterday, which posted a slight rebound in the national auction clearance rate.

The preliminary national auction clearance rate was 68.6% this week, up slightly from the 67.8% clearance rate recorded last weekend, according to Core Logic-RP Data:

Sydney’s preliminary clearance rate rebounded by 2.3% to 67.4%, whereas Melbourne’s fell by 1.5% to 71.7%. Clearances in Brisbane, which typically only has a small number of auctions, fell by 3.5% to 53.5%, whereas Adelaide’s preliminary auction clearance rate rose by 3.4% to 66.7%. Overall auction volumes fell, however, to 1,667 compared to 1,809 last week:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.