Auction clearances slip further as homes flood market

Auction clearance rates continue to trend lower as listings flood the market.

The national preliminary clearance rate was 74.5%, down from the 75.5% recorded the prior weekend. This was off 3,725 auctions, up from the prior weekend’s 3,562.

Sydney’s preliminary clearance fell to 73.4% from 75.1% the prior weekend, whereas Melbourne’s was 72.7% versus 74.1% the prior weekend:

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