Sydney/Melbourne final auction clearances hit two-year high

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

Today, CoreLogic released its final auction results, which reported a 2.6% decline in the final national auction clearance rate to 67.8% – well above the same weekend last year (54.9%) and also above last week’s 66.4%:

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As you can see, Sydney’s final auction clearance rate was 5.0% lower, whereas Melbourne’s was 0.9% lower. However, both were above 70% and were way above last year’s 53.8% (Sydney) and 58.0% (Melbourne).

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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.