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The nation’s preliminary auction clearance rate rose over the weekend – to 76.4% from 73.6% the prior weekend – despite the worsening virus outbreak in Sydney.
Sydney’s auction clearance rate rose to 76.5% from 71.6% the prior week; albeit of fewer auctions (661 versus 765).
Melbourne’s clearance rate fell slightly to 75.3% from 75.9% off a similar number of auctions (1,077 versus 1,067).
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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.