Auction clearances soften

Auction clearance rates softened slightly over the weekend, with the preliminary rate nationally coming in at 73.6%, down from 75.3% last weekend:

Auction clearances were also way above the 47.0% recorded in the same weekend last year:

Sydney’s preliminary clearance rate was 79.4%, down from 79.7% last weekend, but way above the 45.3% recorded in the same weekend last year.

Melbourne’s preliminary clearance was 73.3%, down from 77.1% last weekend, and way above the 48.6% recorded in the same weekend last year.

Both are pointing to strongly rising prices:

However, auction volumes (1,535) were way below last year’s 2,928, and way below the 2017 ‘boom’ levels:

Domain’s auction results were a little softer, but based on a smaller sample size:

 

Leith van Onselen
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