CoreLogic released its preliminary auction market report yesterday, which posted no change to the preliminary national auction clearance rate again with relatively low volumes recorded.
The preliminary national auction clearance rate was 77.5% this week, exactly the same as last week, but still a big increase from the 62.3% recorded in the same weekend of last year:
Sydney’s preliminary clearance rate rose by 2.1% to 84.2%, whereas Melbourne’s fell by 3.3% to 77.2%. Clearances in Brisbane fell by 0.6% to 53.5%, whereas Adelaide’s preliminary auction clearance rate rose by 0.2% to 68.3%. Overall auction volumes rose to 2,843 versus 2,490 last week. But volumes were down 13% from the 3,274 recorded in the same weekend last year:
As shown in the next chart, Melbourne auction clearances were up by 7.4% versus the same weekend last year, although auction volumes were down by 16%:
Sydney’s clearance rate was up by 26.2% against the same weekend last year, although auction volumes were down 13%:
