Auction clearances rise on strong volumes

CoreLogic released its auction report yesterday, which revealed another weekend of strong auction conditions, with the national auction clearance rate rising to 77.2% from 76.2% last weekend, well above the 68.9% recorded in the same weekend last year:

Auction volumes nationally also surged to 2,794, well above the 1,920 recorded in the same weekend last year.

As shown above, Sydney’s auction clearance rate was 80.7%, above the 79.4% recorded last weekend and above last year’s 73.2%. Auction volumes were also higher, with 1,053 homes going under the hammer versus 735 on the same weekend last year:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

Share

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.