Auction market runs hot

Despite Sydney still being in lockdown, the nation’s auction market ran hot over the weekend.

CoreLogic record a preliminary national clearance rate of 79.2%, up significantly from the prior weekend’s 74.8%.

Sydney’s preliminary clearance rate lifted to a strong 80.8% from the prior weekend’s 74.8%, whereas Melbourne’s firmed to 77.1% from 71.9%. However, auction volumes were slightly lower – 1,806 versus 1,849 the prior weekend.

Across the smaller capitals, where auctions are far less common, auction clearances were also strong.

CoreLogic Preliminary clearance rate

Strong clearances.

The nation’s clearance rate remains at historically high levels; albeit down significantly from March’s peak:

CoreLogic national clearance rate

Still high, but down from March’s peak.

Domain’s auction results were softer; albeit off a smaller sample size:

Domain auction results

Domain’s auction results softer.

Still a strong property market.

Unconventional Economist
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