Auction Markets Soften Over Long Weekend

This week, 694 capital city homes were scheduled for auction, with preliminary results returning a 59.8 per cent clearance rate. The lower volume of auctions came as most states and territories welcome the Queen’s Birthday public holiday on Monday. The previous week saw 856 homes scheduled for auction and a final clearance rate of 61.3 per cent, the third week in a row where the final clearance rate held above 60 per cent. One year ago, there were 805 homes taken to auction and a 48.3 per…