Sydney and Melbourne final auction clearance rates surge

Earlier this week, CoreLogic released its preliminary auction clearance rates, which revealed the following results:

Today, CoreLogic has released its final auction results, which reported a 5.3% decline in the final national auction clearance rate to 73.3% – well above the same weekend last year (51.2%):

As you can see, Sydney’s final auction clearance rate was 4.9% lower than the preliminary reported rate, whereas Melbourne’s was 3.2% lower. Both were well above last year’s 54.6% (Sydney) and 52.5% (Melbourne).

The next chart shows the national auction clearance rate rebounded quite sharply from last week:

The below charts plot the trend final clearances in Sydney and Melbourne against dwelling value growth, which points to moderating price growth in Melbourne but stronger growth in Sydney:

Leith van Onselen
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