SQM Research has released its auction report, which reported clearance rates for Sydney and Melbourne in the 40s:
Last week, Sydney recorded a final auction clearance rate of 45.1% with Saturday auctions selling better than mid-week by some margin (46.2% verses 38.5%). Sydney volumes were steady at 526 properties. Clearance rates dipped on the previous week’s 47.9%.
Melbourne auctions once again struggled. A clearance rate for the week of 43.3% was recorded with the Saturday results fairing a little worse than the mid-week results (43.2% verses 44.3.%). Volumes rose to 561 properties for the week compared to the 477 for the previous week.
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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.
