Auction market firms on rising volumes

CoreLogic’s preliminary report on the weekend’s auctions revealed that the national preliminary clearance rate strengthened to 80.4% from last week’s 78.5%. Auction volumes were also considerably stronger, with 2,876 homes going under the hammer nationally versus 2,041 the prior weekend.

Sydney continued its strong run recording a preliminary clearance rate of 83.5% off 1,121 auctions, up from the prior weekend’s 82.1% preliminary clearance rate off 777 auctions.

Melbourne’s preliminary clearance rate also firmed to 77.1% off 1,277 auctions, up from the prior weekend’s 76.1% clearance rate off 925 auctions.

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