Auction market loses momentum following floods

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The nation’s auction market softened again last weekend, negatively impacted by the inclement weather.

With 2,979 homes taken to auction, the final clearance rate came in at 69.2%, down from 70.9% the prior weekend:

According to CoreLogic:

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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.
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