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CoreLogic released its auction report yesterday, which reported a slight weakening in the preliminary national auction clearance rate to 70.0% from 71.1% last weekend, and was well below the 77.1% recorded in the same weekend last year:
Auction volumes nationally were 2,060 – above the 1,899 recorded in the same weekend last year.
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As shown above, Sydney’s auction clearance rate was 70.5%, below the 71.6% recorded last weekend and well below last year’s 80.7%. However, auction volumes were a bit higher, with 770 homes going under the hammer versus 747 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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