Core Logic released its auction market report yesterday, which posted a small fall in the preliminary national auction clearance rate, led by Sydney.
The preliminary national auction clearance rate was 76.4% this week, down slightly from the 78.4% recorded last weekend, but up from 71.2% in the same weekend of last year:
Sydney’s preliminary clearance rate fell 3.9% to 80.0%, whereas Melbourne’s fell by 0.6% to 78.7%. Clearances in Brisbane, which typically only has a small number of auctions, fell by 2.8% to 55.6%, whereas Adelaide’s preliminary auction clearance rate fell by 4.0% to 76.7%. Overall auction volumes rose to 2,026 versus 1,853 last week. However, volumes were down significantly (24%) from the 2,654 recorded at the same weekend last year:
