PHOTO: Auctions
Sydney’s home auction market has got off to a slow start this year, with just 11 auctions scheduled for today and only a trickle scheduled for the coming weeks.
This comes as data published this week showed the majority of homes that went to auction over the three months to December failed to sell under the hammer.
The citywide auction clearance rate for the period was just 43.1 per cent, down from 57.7 per cent last year and nearly 80 per cent two years ago.
The spring selling season was also unusually quiet last year — about 2400 fewer homes went under the hammer than they did in the closing months of 2017.
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