What Is Driving The Clearance Rate Weakness In Sydney & Melbourne?

Over recent weeks, auction clearance rates across the nation’s two largest housing markets (Sydney and Melbourne) have been significantly lower than they were 12 months ago however, they haven’t necessarily been all that much lower than the previous years.  While comparing auction volumes and clearance rates to a year ago is valuable, it is much more valuable to look at how these metrics compare across a number of years.

Melbourne

Auction clearance rates in Melbourne are…