Auction drop to lowest since 2012
The cooling in housing markets around Australia has been confirmed by new data showing the combined capital city auction clearance rate fell to 62.1 per cent for the December quarter of 2015, the lowest level since 2012.
The quarter started at 73.4 per cent, the Corelogic RP Data shows.
Auction volumes rose over the quarter, with 33,604 auctions held over the December quarter, 15 per cent higher when than the September quarter. But both auction volumes and the clearance rate in the December quarter for 2015 were lower than the same time last year.
The contraction was caused largely by the big drop in Sydney’s auction clearances as Adelaide, Brisbane, Canberra and Melbourne all recorded a higher clearance rates compared to a year ago.
©2016 Su-Lin Tan for AFR Weekend.
