Australian auction clearance rates are still falling

 

PHOTO: Frazer Harrison/Getty Images

 

• Australian auction clearance rates could fall below 40% this week given preliminary estimates.
• In early December, just 41% of homes taken to auction sold, the lowest proportion in over seven years.
• No Australian capital city is seeing clearance rates exceed 50% at present.

Australian auction clearance rates fell again last week, pointing to the possibility a sub-40% result when final numbers are released on Thursday.

According to CoreLogic, a combined capitals preliminary clearance rate of 43.8% was reported last week, slipping from 45.3% seven days earlier.

A total of 2,406 home nationwide went under the hammer, down slight from 2,614 in the prior week.

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