REINSW: Sydney’s true auction clearance rate has collapsed

Monday 27 November 2017

Real Estate Institute of NSW (REINSW) president, John Cunningham, has questioned the validity of CoreLogic’s reported 66.2% preliminary auction clearance, claiming the true figure might actually be somewhere in the 40s. From The Real Estate Conversation:

Cunningham said that 40 per cent of results have not been reported, and if those results represent a no sale, then the clearance rate for Sydney could be a lot lower than the 66.2 per cent being reported by CoreLogic.

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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.