“Super Saturday” delivers auctions boom

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The first “Super Saturday” of the year delivered another booming auction market, with both Sydney and Melbourne delivering high preliminary clearance rates off very strong volumes.

At the national level, the preliminary rate was 77.1%, down marginally from 77.7% last weekend, but way above the 50.4% recorded in the same weekend last year:

Sydney’s preliminary clearance rate was 81.4%, roughly the same as the 81.5% last weekend and way above the 54.8% recorded in the same weekend last year.

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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.