Auction clearances push new highs off strong volumes

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CoreLogic’s preliminary auction report posted extremely strong results with the national clearance rate lifting to 84.4% off 3,791 volumes.

The preliminary clearance rate was 2.4% higher than last week’s 82.0%, and above the prior week’s 83.2%. Auction volumes were also the highest since 3,990 were taken to auction in the week ended 25th March 2018.

Weekly auction clearance rate

Australia’s auction market is booming, with clearance rates strongest since 2015.

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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.