Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results:
Today, CoreLogic has released its final auction results, which reported a 4.2% decline in the final national auction clearance rate to 50.4% – well above last week’s final clearance rate of 43.9%, which was negatively affected by the Easter long-weekend:
As you can see, Sydney’s final auction clearance rate was 4.7% lower, whereas Melbourne’s was 2.1% lower.
The chart below shows the small seasonal bounce in auction clearance rates has partially reversed:
In addition to the weak clearance rate, auction volumes have also dived, down 60% in Sydney and 63% in Melbourne versus the same weekend last year.
The housing market remains stuck in the gutter.