CoreLogic released its preliminary auction market report yesterday, which posted a small fall in the preliminary national auction clearance rate but again with low volumes recorded.
The preliminary national auction clearance rate was 77.9% this week, down from the 79.2% recorded last weekend, but up significantly from 67.4% in the same weekend of last year:
Sydney’s preliminary clearance rate rose by 1.8% to 83.3%, whereas Melbourne’s fell by 2.7% to 78.5%. Clearances in Brisbane fell by 3.6% to 52.2%, whereas Adelaide’s preliminary auction clearance rate fell by 12.7% to 67.9%. Overall auction volumes rose to 2,405 versus 2,246 last week. However, volumes were down 16% from the 2,858 recorded at the same weekend last year:
As shown in the next chart, Melbourne auction clearances were up by 5.8% versus the same weekend last year, although auction volumes were down 16%:
Sydney’s clearance rate was up by 19.6% against the same weekend last year, although auction volumes were down 20%:
