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CoreLogic released its final auction report for last weekend, with the final clearance rate falling slightly to 77.2% from 77.7% the prior weekend. This was off another rise in the number of auctions, from 2,902 to 3,016.
As usual, Sydney led the market recording a final clearance rate of 81.4% (up from 80.2%), whereas Melbourne’s final clearance rate fell to 74.1% (down from 75.1%).
Elsewhere, final auction clearances were solid to strong with the exception of Perth; albeit off thin volumes given auctions aren’t as common in these markets.
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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.