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CoreLogic has released its final auction clearance rates for last week, with the final clearance rate remaining at a near six-year high of 79.3%, just a whisker below the prior week’s 79.6%. Clearances were also well up from the 73.9% final clearance rate recorded in the same time last year when the property market was also running hot.
As usual, clearance rates were driven by Sydney (85.3%) and Melbourne (76.4%), which are the nation’s dominant auction market; although results were near universally strong:
Sydney’s auction market remains white hot recording the highest final clearance rate since June 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.