Tensions Rise As Sydney’s Auction Clearance Rate Drops Below 60%

Sydney’s property market saw tensions rise this weekend past with auction clearance rates dropping to 58.1 per cent as reported by Domain, as auctioneers who were confronted by a significant amount of “pass-in’s”, mediated standoffs between prospective buyers and vendors across the city. The clearance rate for Saturday, one of the lowest of the year, was based on 378 reported auctions. However in addition to this, 76 properties were withdrawn, and a further 216 scheduled auction results Read more [...]