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CoreLogic has released its first auction report for the year, which shows that the auction market remains on a solid footing returning a preliminary clearance rate of 65.5%:
Preliminary clearances remained particularly strong in Sydney, coming in at 77.4% (albeit on soft volumes), whereas Melbourne’s was 67.7% on slightly higher volumes:
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However, as shown above, these results are based on a smaller than usual sample with many auctions not yet reported.
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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.