Sydney pushes auction clearances higher

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CoreLogic’s preliminary report on the weekend’s auctions reported a higher clearance rate driven by strong results from Sydney.

The national preliminary clearance rate rose to 77.8% from 77.4% the prior weekend. This was off significantly higher auction volumes, up to 2,418 from the prior weekend’s 1,426 (which was negatively impacted by the Queen’s Birthday holiday).

Sydney continued its strong run recording a preliminary clearance rate of 82.6%, up from the prior weekend’s 78.5% 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.