Auction market neither boom nor bust

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CoreLogic’s preliminary auction report reported a slight rise in the preliminary clearance rate (from 64.5% to 65.1%) off solid volumes:

Once final results are received later this week, we are likely to see the weighted average clearance rate fall to around 60%. If so, this would mean that auction clearances are hovering just below the decade average:

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According to CoreLogic:

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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.