CoreLogic has released its final auction results for the weekend just gone with the final national clearance rate softening to 76.8%, down from the 79.9% preliminary clearance rate and also slightly lower than the 77.1% final clearance rate recorded in the prior weekend:
It was the lowest weekly final auction clearance rate recorded in 2021; albeit seasonality from Easter School Holidays likely dragged down the result.
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Sydney continued to lead the way recording a clearance rate above 80% for the 10th consecutive week.
However, Melbourne’s clearance rate fell into the low 70s – the weakest clearance rate since mid-February.
Auction clearances across the other markets were generally strong with the exception of Perth.
As regular readers know, auction clearance rates have historically been a good leading indicator of price growth across Sydney and Melbourne.
Sydney’s auction results continue to point to rapid price appreciation:
Despite this week’s softening, Melbourne’s auction clearance rates are also pointing to strong price growth; albeit softer than Sydney’s:
All signs continue to point to strong property value increases.
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