Sydney auctions power through COVID outbreak

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CoreLogic’s preliminary report on the weekend’s auctions reported a stable clearance rate led by strong results from Sydney, despite the growing COVID outbreak.

The national preliminary clearance rate fell slightly to 77.5% from 77.8% the prior weekend. This was off significantly higher auction volumes, which rose to 2,976 from the prior weekend’s 2,418.

Sydney continued its strong run recording a preliminary clearance rate of 81.8%, down only slightly from the prior weekend’s 82.6% 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.