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CoreLogic released its auction report yesterday, which reported a slight firming in the preliminary national auction clearance rate to 70.2% from 70.0% last weekend, but was well below the 75.4% recorded in the same weekend last year:
Auction volumes nationally were 2,225 – above the 2,062 recorded in the same weekend last year.
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As shown above, Sydney’s auction clearance rate was 72.3%, above the 70.5% recorded last weekend but well below last year’s 80.6%. Auction volumes were also a bit higher, with 810 homes going under the hammer versus 758 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.