Auctions: steady as she goes
Auction clearances were a bit softer this week, although the preliminary clearance rate was solid at 75.7 per cent according to CoreLogic.
That's well above the 51.8 per cent from a year earlier.
And in Sydney the preliminary clearance rate was still above 80 per cent, despite somewhat softer results elsewhere.
Anyway, here's the chart from the core of logic:
Source: CoreLogic
Auction listings are down dramatically by about quarter from a year earlier.
So the story goes, a rush of sellers is going to hit the market, but there's no real sign of it to date.
In fact as my buddy and industry supremo Cate Bakos points out, strip out the school hols and long weekends and there are only seven auction Saturdays remaining this year before the December drought kicks in.
