Auction clearance rates fall to lowest level in six years (opens original article in a new tab)

Auction clearance rates in Australia dropped to 47% in the past week, the lowest since the start of the pandemic, driven by economic factors and reduced confidence.

• Auction clearance rates in Australia fell below 50% for the first time since April 2020.
• Factors include high interest rates, inflation, and reduced confidence following the budget.
• Buyers now have more leverage in a market with increased housing stock.