Clearance rates hit six-year low as more than half of Australian homes up for auction fail to sell

Preliminary data show 47.7% of homes sold at auction in the week ending 21 June, the lowest rate has been since April 2020Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastClearance rates in Australia’s capital cities have fallen to a six-year low, with fewer than half of homes at auction finding buyers.Preliminary data from Cotality shows 47.4% of homes that went to auction sold in the week ending Sunday 21 June. That figure is a weighted average encompassing different rates in different capitals, but the numbers are striking across the board. Continue reading...