Auction clearance rate rebounds off weak volumes

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CoreLogic released its auction report yesterday, which reported a small rebound in the preliminary national auction clearance rate to 59.1% from 56.2% last weekend (later revised down to 54.0%).

The preliminary clearance rate was also way below the 67.5% recorded in the same weekend of last year:

Auction volumes nationally were 1,400 – way below the 2,040 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.