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Auctions slump as buyers await rate cut

Staff Reporter 1 minute read

Auction clearance rates remained low across the country over the weekend, as buyers wait for the anticipated RBA’s interest rate cut to materialise.

In Sydney, the clearance rate was down to 46.9 per cent, almost 20 per cent below the figure for the same weekend last year, Australian Property Monitors data showed.

In Melbourne, 47.8 per cent of auctions cleared – compared to 82.7 per cent last year.

Up north, 40.4 per cent of properties sold in Brisbane while in Adelaide just 32.4 per cent were sold.

Published: 1-09-08 

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