Final auction clearance rate crashes into mid-50s

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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 4.4% decline in the final national auction clearance rate to 56.9% – still above the same weekend last year (50.9%):

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As you can see, Sydney’s final auction clearance rate was 5.6% lower than the preliminary reported rate, whereas Melbourne’s was 4.3% lower. Both were still above last year’s 52.1% (Sydney) and 55.1% (Melbourne).

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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.