Auction clearance rate holds above 60% for fifth straight week

After last week’s final national auction clearance rate hit a 15-month high, and Sydney’s was the highest since June 2017, CoreLogic’s preliminary auction clearance rate for the weekend’s auctions rose slightly to 69.0% from 68.9% last weekend – the fifth consecutive week that the clearance rate was above 60%:

However, auction volumes fell to 854 – well down on last year’s 1,178:

When the final results come in later in the week, the national clearance rate should fall to the mid-60s, with Sydney’s in the low-70s and Melbourne’s around 70%.