Final auction clearance rate points to softer growth

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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 6.2% decline in the final national auction clearance rate to 68.6% – still well above the same weekend last year (47.8%):

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As you can see, Sydney’s final auction clearance rate was 7.4% lower than the preliminary reported rate, whereas Melbourne’s was 2.5% lower. Both were well above last year’s 52.3% (Sydney) and 49.2% (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.