Auctions slide at Christmas
Home buyers are not feeling the Christmas spirit, with auction clearance rates sliding yet again.
According to Australian Property Monitors, just 48 per cent of properties cleared in Sydney this weekend, down from the 61 per cent achieved this time last year.
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
It is the second weekend in a row that the auction clearance rate in Sydney has dropped below 50 per cent.
The story was much the same in Australia’s other capital cities with Adelaide clearing just 28 per cent of properties over the weekend.
In Brisbane just 6.3 per cent of properties cleared – well down from the 33.3 per cent achieved this time last year.
Of the 86 properties listed for auction in Brisbane just one managed to sell under the hammer, according to the preliminary APM data.
