Spring has seen less auctions each week relative to same time last year
The combined capital cities saw an increase in the number of homes taken to auction this week with a total of 1,985 auctions held, up from the week prior when 1,916 auctions took place.
There were 1,692 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 56.7 per cent, making it the busiest week for auctions since the week ending 24 June 2018.
Prestige market holds up amid one of lowest auction clearance rates in 10 years
While it was a slow weekend for auctions across the nation, with one of the lowest clearance rates in ten years, there is still "plenty of heat in the luxury end of the market".
Cool weather sees cooler clearance rates, while prime markets perform well
While preliminary clearance rates and auction volumes dropped slightly over the weekend, the prime markets in both Sydney and Melbourne performed well, as buyers seek 'safe haven' suburbs.