Final auction clearance rate points to slowing housing market

Advertisement

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%):

Advertisement

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 full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.