Auction activity stalled on the weekend despite the government’s stimulus initiatives to restore confidence in the economy.
Clearance rates fell sharply in Sydney to 40 per cent compared to 49 per cent the weekend before, according to Australian Property Monitors.
Melbourne and Brisbane also saw clearance rates decline from 53 to 46 and 31 to 23 per cent respectively.
Only Adelaide saw an improvement of 15 per cent to a clearance rate of 56 per cent.
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