Sydney auctions boom, Melbourne busts

Monday, 31 August 2020

CoreLogic’s preliminary auction clearance rate climbed, with 67.7% of reported auctions cleared versus 64.7% last weekend:

The lift was driven by Sydney, whose preliminary clearance rate rose to 74.0% from 71.9% last weekend.

However, Melbourne’s preliminary clearance rate slumped to 49.6% from 50.3% last weekend off thin volumes.

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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.