Sydney auction clearances continue to fall

CoreLogic released its auction report yesterday, which reported another fall in the preliminary national auction clearance rate to 66.5% from 66.8% last weekend, and remained well below the 75.8% recorded in the same weekend last year:

Auction volumes nationally were 2,894 – about the same as the 2,897 recorded in the same weekend last year:

As shown above, Sydney’s auction clearance rate fell further to 64.4% from 67.4% the prior weekend, and remained way below last year’s 81.4%. Auction volumes were exactly the same as the same weekend last year (1,089):

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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.