Core Logic released its auction market report yesterday, which posted a slight fall in the national auction clearance rate but a big jump in Melbourne.
The preliminary national auction clearance rate was 71.6% this week, down from the 72.0% clearance rate recorded last weekend, according to Core Logic:
Sydney’s preliminary clearance rate fell by 2.8% to 76.2%, whereas Melbourne’s jumped by 5.4% to 77.3%. Clearances in Brisbane, which typically only has a small number of auctions, rose by 2.8% to 46.8%, whereas Adelaide’s preliminary auction clearance rate fell by 20.0% to 52.3%. Overall auction volumes were basically flat at 1,378 versus 1,365 last week. Although volumes were down significantly from the 1,827 recorded at the same weekend last year:
As shown in the next chart, Melbourne auction clearances were actually 1.3% higher than the same weekend last year, although auction volumes down 12%:
Sydney’s clearance rate was actually 3.5% higher than the same weekend last year, although auction volumes were down 42%:
