Clearance rates hit six-year low as more than half of Australian homes up for auction fail to sell
Australian housing auction clearance rates have dropped to 47.7%, the lowest level since the start of the Covid-19 pandemic. Economists attribute this decline to weakening market conditions and seasonal trends.
Why it matters
Falling clearance rates are a key indicator of a cooling property market, which impacts national economic health and consumer confidence.
Auction clearance rates as low as 47.7% were last seen in April 2020, at the outset of the Covid pandemic. Photograph: Bloomberg/Getty Images View image in fullscreen Auction clearance rates as low as 47.7% were last seen in April 2020, at the outset of the Covid pandemic. Photograph: Bloomberg/Getty Images Housing 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 2020
Data-driven reporting on economic trends.
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