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CoreLogic released its auction report yesterday, which reported a further fall in the preliminary national auction clearance rate to 60.3% from 61.0% last weekend (later revised down to 58.2%).
The preliminary clearance rate was also way below the 73.1% recorded in the same weekend of last year, with a clear downward trend present:
Auction volumes nationally were 2,089 – well below the 2,824 recorded in the same weekend last year:
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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.