Melbourne’s auction market tanks

Sunday 15 August 2021

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

CoreLogic recorded a preliminary national clearance rate of 72.3%, down from the prior weekend’s 76.4%.

Sydney’s preliminary clearance rate strengthened to 82.9% versus 80.4% the prior weekend, whereas Melbourne’s tanked to 63.0% from 73.5% the prior weekend. This was off higher national volumes – 1,918 versus 1,672 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.