Despite a slight uptick in buyer activity, auction clearance rates have continued to provide some subdued results.
Australian Property Monitors’ senior economist Andrew Wilson told Smart Property Investment that he expects the market to remain relatively flat over the coming weeks.
“While auction results have shown subdued activity over recent weeks, we are finding the results to be fairly similar to the same time last year,” he said.
“It is the quiet winter season at the moment so we expect subdued activity to continue at this time of the year.”
Only 38.9 per cent of properties cleared in Adelaide – down 27.8 per cent on the same time last year – while in Brisbane, 31.3 per cent of properties cleared over the weekend, up 11.3 per cent on the previous year.