Auction weakness continues

Monday 30 July 2018

CoreLogic released its auction report yesterday, which reported a decrease in the preliminary national auction clearance rate to 58.4% from 60.6% last weekend (later revised down to 57.0%).

The preliminary clearance rate was also way below the 68.7% recorded in the same weekend of last year:

Auction volumes nationally were 1,534 – way below the 1,987 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.