Domain released their preliminary auction results for today. Clearance rates are down again, but the stunning observation is the difference is value settled compared with a year ago.
Anyone who wants evidence of how much the market has slowed, compared the $1.4 billion a year ago, with $486 million today! The clearance rates will drop as more results come in, and it seems the volume of auctions which happen are significantly lower than those listed.
Brisbane reported 38 auctions from 88 listings, and 22 sold, at 52%. Adelaide listed 53, reported 26 and sold 22 at 76%. Canberra listed 50, reported 42 and sold 27 at 61% cleared.
