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The nation’s auction clearance rate rebounded following a huge reduction in the number of auctions held across Melbourne, which lowered the withdrawal rate.
CoreLogic recorded a preliminary national clearance rate of 44.5%, up from the prior weekend’s 55.4%.
Sydney’s preliminary clearance rate remained rock solid at 84.0% versus 82.7% the prior weekend, whereas Melbourne’s rebounded to 44.5% from 34.7% the prior weekend, but remained very weak.
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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.