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CoreLogic released its auction report yesterday, which reported a slight weakening in the preliminary national auction clearance rate to 70.5% from 71.5% last weekend, and was below the 75.0% recorded in the same weekend last year:
Auction volumes nationally were 2,011 – above the 1,471 recorded in the same weekend last year.
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As shown above, Sydney’s auction clearance rate was 72.0%, above the 71.1% recorded last weekend but well below last year’s 78.3%. However, auction volumes were higher, with 782 homes going under the hammer versus 635 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.