Melbourne’s auction market collapses on lockdown

Sunday 22 August 2021

The nation’s auction market dived over the weekend on the back of a massive fall in Melbourne’s clearance rate.

CoreLogic recorded a preliminary national clearance rate of 63.3%, down from the prior weekend’s 72.3%.

Sydney’s preliminary clearance rate remained rock solid at 81.7% versus 82.9% the prior weekend, whereas Melbourne’s collapsed to just 48.6% from 63.0% 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.