PHOTO: Auction clearance rates are in the 40s in Sydney and low 50s in Melbourne – ABC News: Angela Lavoipierre
Australia’s property market is enduring a serious winter chill.
Preliminary auction clearance rates in Sydney dropped below 50 per cent last weekend according to Domain’s numbers and were clinging just above according to CoreLogic.
Melbourne’s market is a little stronger, although still stuck in the 50s.
But many agents are slow to report unsuccessful auctions, so those clearance rates tend to drop noticeably when the final figures come in at the end of the week.
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