Core Logic-RP Data released its auction market report yesterday, which posted another small rise in the national auction clearance.
The preliminary national auction clearance rate was 71.0% this week, up from the 70.0% clearance rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s preliminary clearance rate fell by 4.4% to 74.0%, whereas Melbourne’s rose by 3.0% to 74.0%. Clearances in Brisbane, which typically only has a small number of auctions, rose by 8.6% to 49.5%, whereas Adelaide’s preliminary auction clearance rate rose by 4.7% to 64.4%. Overall auction volumes also rose to 2,519 compared to 1,542 last week:
As shown in the next chart, Melbourne auction clearances were 7.7% lower than the same weekend last year:
However, Sydney’s clearance rate was 13.3% lower than the same weekend last year:
