With both Sydney and Melbourne in hard lockdown this weekend, I was expecting the nation’s auction clearance rate to take a heavy hit.
Not so, with CoreLogic recording a preliminary national clearance rate of 76.3%, basically the same as last weekend’s 76.4%.
Sydney’s preliminary clearance rate firmed to 77.1% from the prior weekend’s 76.5%, whereas Melbourne’s also firmed to 76.4% from 75.3%. Auction volumes were also similar.
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Across the smaller capitals, where auctions are far less common, auction clearances were mixed.
The next chart shows that the national clearance rates has retraced quite sharply from March’s peak but remains at a high level historically:
Domain’s preliminary auction results were softer; albeit based on a smaller sample size:
Lockdowns haven’t lessened the thirst for Australian property.
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