CoreLogic has released its final auction clearance rates for last week, which hit a fresh six year high of 79.6% – up from the 72.7% final clearance rate recorded in the same time last year.
As usual, clearance rates were driven by Melbourne (77.4%) and Sydney (83.4%), which dominate the nation’s auction market; although results were universally strong:
The last time the national auction clearance rate was this high was in early 2015:
Given past historical correlations, the surge in final clearance rates points to strong price rebounds across both Sydney and Melbourne:
2021 is shaping up to be a big year for Aussie property.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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