The unprecedented crash in auction clearance rates

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SQM Research has developed a new series tracking auction clearance rates across Australia, which illustrates the epic crash in the auction market from the beginning of March.

The methodology of this new series is summarised as follows:

The core measurement is based on the total number of properties, number of properties that sold on the day and sold prior, divided into the total number of properties originally scheduled to Auction on that day.

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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.