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CoreLogic released its auction report yesterday, which revealed a further softening of the national auction clearance rate to 69.6% from 71.8% last weekend, but was still above the 67.4% recorded in the same weekend last year:
Auction volumes nationally were 2,407 – above the 2,183 recorded in the same weekend last year.
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As shown above, Sydney’s auction clearance rate was 72.4%, above the 71.3% recorded last weekend but below last year’s 73.4%. However, auction volumes were higher, with 906 homes going under the hammer versus 768 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.