Melbourne auction clearance rates slip below 40 per cent

PHOTO: As clearance rates tumble, more properties are selling in post-auction negotiations. Photo: Stephen McKenzie

Melbourne’s auction clearance rates have slipped below 40 per cent on four Saturdays in spring.

The unprecedented results, recorded on the last weekend in September and three weekends in November, represent the city’s lowest figures reported since Domain records began in 1997.

On Saturday, the first day of summer, Melbourne’s preliminary clearance rate was 45 per cent, which was up from 38.6 per cent a week earlier but could be revised as more results trickle in.

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