Auction clearances stuck near 5-year lows

Monday 2 July 2018

CoreLogic released its auction report yesterday, which reported a fall in the preliminary national auction clearance rate to 56.7% from 58.7% last weekend (later revised down to 55.5%).

The preliminary clearance rate was also way below the 67.3% recorded in the same weekend of last year, with a sharp downward trend evident:

Auction volumes nationally were 1,669 – below the 2,001 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.