Auction clearances hold in the 70s

Auction clearance rates retraced over the weekend, with the preliminary rate nationally falling to 74.5% from 78.9% last weekend:

However, auction clearances were still way above the 41.0% recorded in the same weekend last year:

Sydney’s preliminary clearance rate was 78.1%, down from 84.7% last weekend, but way above the 41.3% recorded in the same weekend last year.

Melbourne’s preliminary clearance rate was 75.3%, down from 78.3% last weekend, but also way above the 43.8% recorded in the same weekend last year.

Auction volumes (2,837) were also above the same weekend last year (2,631).

Leith van Onselen

Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

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