Final auction clearance rate stuck at 50

By Leith van Onselen

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.

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