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CoreLogic released its auction report yesterday, which reported a slight weakening in the preliminary national auction clearance rate to 69.4% from 70.7% last weekend, and was well below the 75.8% recorded in the same weekend last year:
Auction volumes nationally were 953 – above the 872 recorded in the same weekend last year, with volumes affected by the AFL and NFL Grand Finals.
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As shown above, Sydney’s auction clearance rate was 69.1%, below the 71.5% recorded last weekend but well below last year’s 82.5%. However, auction volumes were higher, with 597 homes going under the hammer versus 530 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.