Final auction clearance rate crashes to record low

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By Leith van Onselen

Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results:

Yesterday, CoreLogic’s Cameron Kusher tweeted final auction results, which reported a large 3.8% decline in the national auction clearance rate to a record low 40.0%, with Sydney’s auction clearance rate diving 4.8% to 38.8% (lowest since July 2008) and Melbourne’s falling 2.7% to just 44.2%:

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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.