Auction market undampened by Sydney’s big wet

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The massive rain storm that swept NSW over the weekend did nothing to deter the auction market, which recorded another preliminary clearance rate above 80%.

The national preliminary clearance rate was 82.0% – only a whisker below last weekend’s 83.2%.

Once again, Sydney led the way recording a preliminary clearance rate of 87.5% – virtually the same as the prior week’s 87.4%.

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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.