Auction clearances rebound on Melbourne reopening

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CoreLogic’s preliminary report on the weekend’s auctions reported a higher clearance rate as Melbourne reopened.

The national preliminary clearance rate rose to 77.4% from 73.5% the prior weekend. However, this was off significantly lower auction volumes, down to 1,426 from the prior weekend’s 2,691, owing to the Queens’s Birthday long weekend.

Sydney continued its strong run recording a preliminary clearance rate of 78.5%, down from the prior weekend’s 79.6% preliminary clearance rate.

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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.