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This week, the combined capital preliminary auction clearance rate increased to 54.8%, the highest early clearance percentage in seven weeks, following three weeks of staying below 50%. With last week’s preliminary clearance rate of 49.8% being revised down to 46.0%, the increase is off a low base.
An 8.7% decrease in volume coincided with an increase in the early clearance rate.
Over the course of the week, 1,318 auctions took place, which is 8.0% fewer than the same week the previous year.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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