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CoreLogic has released the final auction clearance rate for last weekend, which retraced to 56.2% versus 61.3% last week; albeit off volumes that were depressed by the Queen’s Birthday Long Weekend Holiday:
According to CoreLogic:
Last week’s clearance rate was lower than the previous week’s 61.3% when volumes were higher (856). The rate of withdrawn auctions has normalized somewhat over the last few weeks with 12% of the 592 results this week reported as being withdrawn; significantly lower than the 50-60% a few weeks ago. Of the 332 sold results collected, 45.5% sold prior to the scheduled auction date.
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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.
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