CoreLogic has released its preliminary auction results for the weekend, which reported a clearance rate of 79.9% off 1,879 auctions. This was up on the 79.4% preliminary figure recorded last week, which was later revised down to 77.1% at final collection.
Sydney continued to lead the way recording a preliminary clearance rate of 82.8% off 705 auctions, whereas Melbourne recorded a preliminary clearance rate of 77.2% off 916 auctions.
Auction clearances were also strong across the smaller markets with the exception of Perth; although these were off low volumes.
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As shown in the next chart, auction clearances remain near cyclical highs:
Domain’s preliminary auction results were similar with a preliminary clearance rate of 83% recorded in Sydney and 74% in Melbourne (chart via Shane Oliver):
Still a strong market, notwithstanding some seasonal slowing after the pre-Easter listing and sales surge in the lead up to school holidays.
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