Core Logic released its preliminary auction market report yesterday, which posted an increase in the preliminary national auction clearance rate but again with low volumes recorded.
The preliminary national auction clearance rate was 79.2% this week, up from the 77.5% recorded last weekend, and up significantly from 69.5% in the same weekend of last year:
Sydney’s preliminary clearance rate fell by 2.3% to 81.5%, whereas Melbourne’s fell by 11.6% to 81.2%. Clearances in Brisbane jumped by 7.9% to 55.8%, whereas Adelaide’s preliminary auction clearance rate rose by 6.4% to 80.6%. Overall auction volumes rose to 2,246 versus 853 last week on account of the footy finals. However, volumes were down a hefty 25% from the 3,016 recorded at the same weekend last year:
