Core Logic released its auction market report yesterday, which posted another small rise in the national auction clearance rate albeit on low Election-affected volumes.
The preliminary national auction clearance rate was 70.7% this week, up from the 69.1% clearance rate recorded last weekend, according to Core Logic:
Sydney’s preliminary clearance rate rose by 3.3% to 80.4%, whereas Melbourne’s rose by 3.2% to 71.6%. Clearances in Brisbane, which typically only has a small number of auctions, fell by 9.5% to 38.6%, whereas Adelaide’s preliminary auction clearance rate rose by 6.6% to 74.2%. However, overall auction volumes fell sharply to 811 from 2,189 last week, obviously due to the Federal Election:
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