CoreLogic released its preliminary auction market report yesterday, which posted no material 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, down marginally from the 77.6% recorded last weekend, but still a big increase from the 61.4% recorded in the same weekend of last year:
Sydney’s preliminary clearance rate fell by 2.3% to 82.1%, whereas Melbourne’s rose by 2.9% to 80.5%. Clearances in Brisbane rose by 1.5% to 54.1%, whereas Adelaide’s preliminary auction clearance rate fell by 6.9% to 68.1%. Overall auction volumes rose to 2,490 versus 2,246 last week. But volumes were down 16% from the 2,947 recorded in the same weekend last year:
As shown in the next chart, Melbourne auction clearances were up by 11.5% versus the same weekend last year, although auction volumes were down by 23%:
Sydney’s clearance rate was up by 23.7% against the same weekend last year, although auction volumes were down 15%:
