Auction clearances bounce back on higher volumes

Monday 7 February 2022

The nation’s auction market continued to firm over the weekend, shrugging aside concerns over rising interest rates.

Despite 1,786 homes taken to auction this week (up 53.2% week-on-week and 37.0% year-on-year), the preliminary national auction clearance rate came in at a solid 74.2%:

This time last year 79.3% of 1,304 auctions held were successful.

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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.