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Auction clearance rates boomed over the weekend, with the preliminary rate nationally rising into the high-70s%, driven by the two biggest markets:
The preliminary national auction clearance rate rose to 77.0% versus 73.6% last weekend. Clearances were also way above the 55.3% recorded in the same weekend last year:
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Sydney’s preliminary clearance rate surged to 83.1% – above last weekend’s 78.9% preliminary rate and way above the 50.6% 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.