auction rates will decline further corelogic

Sydney’s clearance rate which saw 61.3 per cent of auctioned properties sold the corresponding week a year ago, only managed 44.6 per cent this past week.

In Melbourne, 45.7 per cent of homes sold at auction last week, compared to 70.3% level seen one year ago.

Brisbane bottomed out with 38.1 per cent of auctioned houses clearing from the 129 auctions that took place last week.

There were 2,139 homes taken to auction, having increased on the 1,851 auctions held over the week prior when a marginally higher 47 per cent cleared.

This time last year, 2,519 homes were auctioned across the combined capitals returning a final auction clearance rate of 64.7 per cent.

Related: Weak Market Conditions to Impact House Prices: Report

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