Final auction clearance rate hits 15 month high

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

Yesterday, CoreLogic has released its final auction results, which reported a 3.6% decline in the final national auction clearance rate to 62.9% – well above the same weekend last year (52.6%) and above last week’s 60.5%:

As you can see, Sydney’s final auction clearance rate was 4.1% lower, whereas Melbourne’s was 2.0% lower. However, both final clearances in Sydney and Melbourne were well above last year’s and running near 70%.

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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.