CoreLogic released its preliminary auction market report yesterday, which posted a small rise in the preliminary national auction clearance rate.
The preliminary national auction clearance rate was 76.0% this week, down from the 75.6% recorded last weekend, but still a big increase from the 60.1% recorded in the same weekend of last year:
Sydney’s preliminary clearance rate rose by 0.7% to 81.9%, whereas Melbourne’s fell by 2.5% to 76.9%. Clearances in Brisbane rose by 6.0% to 53.5%, whereas Adelaide’s preliminary auction clearance rate fell by 1.6% to 66.3%. Overall auction volumes rose to 3,367 versus 2,950 last week. But volumes were down 10% from the 3,729 recorded in the same weekend last year:
As shown in the next chart, Melbourne auction clearances were up by 11.0% versus the same weekend last year, although auction volumes were down by 14%:
Sydney’s clearance rate was up by 25.7% against the same weekend last year, although auction volumes were down 5%:
