Melbourne auctions stink, Sydney auctions strong

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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