Steady But Still Generally Subdued Home Auction Week Dr Andrew Wilson reports.... Capital city auction markets have produced mixed results over the past week, but listings remain generally subdued. The national weekend auction market reported an average clearance rate of 51.8% over the past week, which was again marginally higher than the 50.3% reported over the previous week but again well below the 73.5% reported over the same week last year. Auction markets are meandering higher as spring approaches, although overall results remain underwhelming. The RBA decision to leave rates on hold over August, however, provided some relief for housing markets - for now. Sydney Auction Clearance Rate Higher   Sydney’s auction clearance rate was higher over the past week with listings again marginally higher – but still relatively recessed. Sydney recorded a clearance rate of 58.5% over the past week, which was higher than the 54.4% recorded over the previous week but again significantly lower than the strong 80.1% reported over the same week last year. Melbourne Clearance Rate Eases Melbourne reported a lower auction clearance rate over the past week, falling below 60% for the first time this month. Melbourne recorded a clearance rate of 59.2% over the past week, which was lower than the 64.2% recorded over the previous week and remained well below the 74.8% reported over the same week last year.

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