The number of auctions declined in most major capitals on the weekend, and clearance rates remained flat, Australian Property Monitors reported today.
In Melbourne, 229 properties were listed for auction over the weekend – down 29.9 per cent when compared to the previous weekend.
The story was much the same in Sydney, with the number of properties listed for auction falling 31.1 per cent to 199, down from last weekend’s 315 listings.
Clearance rates also remained flat.
In Sydney and Melbourne, clearance rates continued to struggle over the weekend with only 56.2 per cent and 58.1 per cent of properties selling, respectively.
In Brisbane, only 21 per cent of properties sold, or three of 13. Adelaide’s results were even worse, with only three of 16, or 17 per cent, of reported auctions selling.