CoreLogic released its preliminary auction market report yesterday, which posted a retracement in the preliminary national auction clearance rate again with relatively low volumes recorded.
The preliminary national auction clearance rate was 77.6% this week, down from the 80.2% recorded last weekend, but still a big increase from the 61.0% recorded in the same weekend of last year:
Sydney’s preliminary clearance rate fell by 1.2% to 84.4%, whereas Melbourne’s fell by 3.2% to 78.6%. Clearances in Brisbane fell by 0.8% to 52.6%, whereas Adelaide’s preliminary auction clearance rate fell by 2.4% to 75.0%. Overall auction volumes fell to 2,246 versus 2,641 last week. Volumes were also down 12% from the 2,547 recorded in the same weekend last year:
As shown in the next chart, Melbourne auction clearances were up by 13.0% versus the same weekend last year, with auction volumes steady:
Sydney’s clearance rate was up by 24.2% against the same weekend last year, although auction volumes were down 21%:
