Sydney’s auction clearance rate in free fall

Sunday 10 December 2017

CoreLogic released its auction report yesterday, which reported a small fall in the preliminary national auction clearance rate to 63.1% from 63.5% last weekend, and remained well below the 71.6% recorded in the same weekend last year:

Auction volumes nationally were 3,353 – slightly above the 3,432 recorded in the same weekend last year:

As shown above, Sydney’s auction clearance rate slumped to 58.7% from 62.4% the prior weekend, and remained way below last year’s 73.7%. Auction volumes were also below the same weekend last year (i.e. 990 versus 1,168):

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.