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CoreLogic released its auction report yesterday, which reported a slight firming in the preliminary national auction clearance rate to 70.3% from 70.2% last weekend, but was well below the 76.2% recorded in the same weekend last year:
Auction volumes nationally were 2,490 – above the 2,149 recorded in the same weekend last year.
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As shown above, Sydney’s auction clearance rate was 69.4%, below the 72.3% recorded last weekend and well below last year’s 81.6%. However, auction volumes were higher, with 897 homes going under the hammer versus 815 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.
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