Auction clearances continue rebound

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CoreLogic released its auction report yesterday, which reported another increase in the preliminary national auction clearance rate to 70.5% from 69.1% last week. However, the preliminary clearance rate was still well below the 78.4% recorded in the same weekend of last year:

Nevertheless, as you can see above, the trend clearance rate has bounced.

Auction volumes nationally were at at 3,275 – slightly below the 3,301 recorded in the same weekend last year:

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As shown above, clearances in Sydney (-8.3%), Melbourne (-9.3%), Brisbane (-8.8%), and Canberra (-9.5%) were lower than the same weekend last year, whereas they were higher in Adelaide (+4.3%) and Tassie (+12.9%).

The table shows the breakdown by houses and units:

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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.