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The nation’s auction market collapsed into a deeper hole over the weekend on the back of another massive fall in Melbourne’s clearance rate.
CoreLogic recorded a preliminary national clearance rate of 55.4%, down from the prior weekend’s 63.3%.
Sydney’s preliminary clearance rate remained rock solid at 82.7% versus 81.7% the prior weekend, whereas Melbourne’s collapsed to only 34.7% from 48.6% the prior weekend.
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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.
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