Nation’s auction market surges to new high

Sunday 14 February 2021

CoreLogic’s preliminary auction results reveal a red hot market with the nation’s clearance rate hitting a new high of 86.1%, up from last week’s clearance rate of 83.8%:

Sydney and Melbourne drove the result, both recording clearance rates above 87%:

The strong clearance rate for Melbourne was curious given the city was forced into a stage 4 lockdown from midnight Friday. CoreLogic explains the result as follows:

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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.