The preliminary auction results are in from Domain. We see an ongoing weakening trend, especially in Sydney where last week clearances settled at 51.4%, and the preliminary today is 58.2% so far, but will settle lower.
Comparing the results with last year, both the volume of sales and auctions are down. This will continue to lead home prices lower.
Brisbane achieved 44% of 117 scheduled, Adelaide 67% of 108 and Canberra 68% of 80.
