Auction clearances soften

Auction clearance rates softened over the weekend, with the preliminary rate nationally falling to the low-70s%, driven by retracements across the two biggest markets:

The preliminary national auction clearance rate rose to 73.6% versus 79.6% last weekend. However, clearances were still way above the 55.0% recorded in the same weekend last year:

Sydney’s preliminary clearance rate fell to 78.9% – below last weekend’s 84.7% preliminary rate but still way above the 53.8% recorded in the same weekend last year.

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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.