Weekend auctions are no longer the frenzied scene of a few months ago.
In May, almost every house that went to auction in Sydney and Melbourne was sold, with clearance rates of 86.2 percent and 80.3 percent respectively. Six months later, the weekend results are significantly down, with Sydney's auction clearance rate now at 58 percent and Melbourne's down to 69 percent.
Homeowners still have a pretty good chance of selling at these rates, but it's not the same as six months ago.
Domain senior economist Andrew Wilson said the next few weekends before Christmas, where a record 6,000 Sydney homes are due to be auctioned, would tell whether or not the Sydney market had bottomed out.
Brisbane saw a weekend clearance rate of 46 percent for 198 auctions, while the Gold Coast's preliminary clearance rate was 48 percent across 50 results.
Adelaide saw a 49 percent preliminary clearance rate from 81 auctions, down from 58.1 percent last week.
Canberra had a clearance rate of 66 percent for 62 reported auctions.