Final auction clearance rate crashes into mid-50s

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%):

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).

The next chart shows the national auction clearance rate rebounded strongly over recent weeks:

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

 

Leith van Onselen

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