CoreLogic released its preliminary auction market report yesterday, which posted a small fall in the preliminary national auction clearance rate, although auction clearances continue to run way above last year’s levels.
The preliminary national auction clearance rate was 75.0% this week, down from the 76.0% recorded last weekend, but way above the 57.3% recorded in the same weekend of last year:
Sydney’s preliminary clearance rate fell by 4.2% to 77.7%, whereas Melbourne’s rose by 2.4% to 79.3%. Clearances in Brisbane fell by 3.1% to 50.4%, whereas Adelaide’s preliminary auction clearance rate fell by 1.9% to 64.4%. Overall auction volumes fell to 3,173 versus 3,367 last week. But volumes were down slightly from the 3,252 recorded in the same weekend last year:
As shown in the next chart, Melbourne auction clearances were up by 16.0% versus the same weekend last year, although auction volumes were down by 8%:
Sydney’s clearance rate was up by 24.8% against the same weekend last year, although auction volumes were down 5%:
