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CoreLogic released its auction report yesterday, which reported another fall in the preliminary national auction clearance rate to 55.9% from 56.7% last weekend (later revised down to 52.6%). Sydney’s auction clearance rate was also revised down into the 40s.
The preliminary clearance rate was also way below the 68.4% recorded in the same weekend of last year, with a sharp downward trend evident:
Auction volumes nationally were 1,400 – below the 1,766 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.