Sydney auction clearances boom

CoreLogic released its auction report yesterday, which revealed another weekend of strong auction conditions, with the national auction clearance rate rising to 76.6% from 70.8% last week, to be well above the 71.8% recorded in the same weekend last year:

Auction volumes nationally (1,564) were also above the same weekend last year (1,400).

As shown above, Sydney’s auction clearance rate was 84.8%, well above last weekend’s 78.1% and last year’s 78.1%. Auction volumes were also stronger, with 633 homes going under the hammer versus 513 on the same weekend last year:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.