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 65.3% – still well above the same weekend last year (51.4%):
As you can see, Sydney’s final auction clearance rate was 6.5% lower than the preliminary reported rate, whereas Melbourne’s was 4.5% lower. Both were well above last year’s 54.2% (Sydney) and 52.1% (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 further strong growth in Sydney but softening growth in Melbourne:
Across the combined capital cities, auctions are also pointing to slower growth: