Core Logic released its preliminary auction market report yesterday, which posted a small rise in the preliminary national auction clearance rate.
The preliminary national auction clearance rate was 78.3% this week, up slightly from the 77.9% recorded last weekend, but up significantly from 69.7% in the same weekend of last year:
Sydney’s preliminary clearance rate fell by 0.7% to 84.4%, whereas Melbourne’s rose by 1.1% to 79.1%. Clearances in Brisbane, which typically only has a small number of auctions, fell by 3.6% to 51.5%, whereas Adelaide’s preliminary auction clearance rate jumped by 7.4% to 83.9%. Overall auction volumes rose to 2,445 versus 2,093 last week. However, volumes were down significantly (14%) from the 2,835 recorded at the same weekend last year:
