Melbourne’s auction market goes into hibernation

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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