Auction market rebounds hard

The nation’s auction clearance rate rebounded further over the weekend, recording a preliminary national clearance rate of 82.4%, up from the prior weekend’s 74.6%.

Sydney’s preliminary clearance rate remained rock solid at 84.3% versus 82.3% the prior weekend, whereas Melbourne’s rebounded to 77.2% from 56.4% the prior weekend:

According to CoreLogic:

Of the 1,330 results collected so far, 82.4 per cent were successful which is the highest preliminary clearance rate recorded across the combined capitals since late March 2021.

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

The nation’s clearance rate has rebounded back to March’s peak:

Domain’s auction results were also strong, but off a much smaller sample size:

Australia’s property market continues to shrug off lockdowns.

Unconventional Economist
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