Louis Christopher: Auctions crash points to house price crash

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CoreLogic released its auction report yesterday, which reported another pathetically weak round of auctions.

The preliminary national auction clearance rate was just 46.8% versus 47.2% last weekend (later revised down to 42.7%).

The preliminary clearance rate was also way below the 62.8% recorded in the same weekend of 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.