Final auction clearance rate holds above 70%

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

Today, CoreLogic has released its final auction results, which reported a 3.4% decline in the final national auction clearance rate to 71.1% – well above the same weekend last year (41.0%) but below last week’s 73.6%:

As you can see, Sydney’s final auction clearance rate was 4.3% lower than the preliminary reported rate, whereas Melbourne’s was 2.1% lower. Both were well above last year’s 41.3% (Sydney) and 43.8% (Melbourne).

The next chart shows the national auction clearance rate levitating around the 70% mark:

The below charts plot the trend increase in final clearances in Sydney and Melbourne against dwelling value growth, which still points to price rises; although clearances look to have peaked:

Leith van Onselen
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