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CoreLogic released its auction report yesterday, which reported a further weakening in the preliminary national auction clearance rate to 68.1% from 69.4% last weekend, and was well below the 76.4% recorded in the same weekend last year:
Auction volumes nationally were 2,286 – slightly below the 2,290 recorded in the same weekend last year:
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As shown above, Sydney’s auction clearance rate was 67.2%, below the 69.5% recorded last weekend and way below last year’s 79.8%. Auction volumes were also slightly lower, with 800 homes going under the hammer versus 816 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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