Auction clearances weak again, with Melbourne wilting

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CoreLogic released its auction report yesterday, which reported another very weak wekend of auctions with the preliminary national auction clearance rate at just 55.5% versus 55.0% last weekend (later revised down to 51.8%).

The preliminary clearance rate was also way below the 66.2% recorded in the same weekend of last year:

Auction volumes nationally were 2,404 – way below the 2,782 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.