Core Logic-RP Data released its auction market report yesterday, which posted another fall in the preliminary national clearance rate.
The preliminary national auction clearance rate was 66.4%, down from the 68.1% clearance rate recorded last weekend, according to Core Logic-RP Data:
Sydney’s preliminary clearance rate actually rose by 3.4% to 72.0%, whereas Melbourne’s was 70.5%, down marginally from the 70.6% rate recorded last weekend. Clearances in Brisbane, which typically only has a small number of auctions, were 44.0%, way down from the 52.3% recorded last weekend. Whereas Adelaide’s preliminary auction clearance rate also weakened materially, down from 67.6% last weekend to 54.2%. Overall auction volumes also fell heavily to 1,426 from the 2,253 auctions recorded last weekend on account of long weekends in Melbourne, Adelaide, Canberra and Hobart:
