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The nation’s auction market tanked last weekend on the back of a huge fall in Melbourne’s clearance rate.
CoreLogic recorded a final national clearance rate of 58.0%, down from the prior weekend’s 64.3%.
Sydney’s final clearance rate remained strong at 80.2% versus 78.5% the prior weekend, whereas Melbourne’s collapsed further to just 35.9% from 49.1% 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.