Auction clearance rates softer

Interest rates might be on hold, but home buyers are still treading carefully.

The auction clearance rate in Melbourne plunged from 68% to 60%, with the number of properties under the hammer rising from 567 to 861 after the Anzac Day long weekend.

The clearance rate in Sydney on Saturday was 53%, with 289 homes offered for sale. That compares with a clearance rate of 53% last week, when just 145 properties were offered over the long weekend.

Brisbane’s clearance rate dropped from 36% to 22%, although there were only 33 properties offered for sale.

Adelaide’s clearance rate increased for the second week in a row, rising from 58% to 65%, with 39 properties offered.