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CoreLogic released its auction report yesterday, which reported a rebound in the preliminary national auction clearance rate to 60.6% from 55.9% last weekend (later revised down to 52.0%), albeit on lean volumes. Sydney’s preliminary auction clearance rate also rebounded to 61.3% after final auction clearances last week plunged into the mid-40s.
Nevertheless, the preliminary clearance rate was still way below the 69.9% recorded in the same weekend of last year:
Auction volumes nationally were 1,246 – way below the 1,748 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.