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CoreLogic released its auction report yesterday, which reported a small rebound in the preliminary national auction clearance rate to 67.3% from 65.9% last week (later revised down to 63.6%). The lift was largely driven by Melbourne where the Labour Day long weekend is distorting figures.
The preliminary clearance rate was also well below the 75.1% recorded in the same weekend of last year:
Auction volumes nationally were at at 1,721 – above the 1,473 recorded in the same weekend last year and obviously affected by the long weekends in Melbourne, Adelaide, and Canberra:
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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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