Sydney's lowest clearance rate recorded this year: Andrew Wilson
Sydney has had three consecutive weeks of auction clearance rates below 70 percent with the local market tracking at its lowest since December 2015 according ot Domains Andrew Wilson.
He said Sydney recorded a clearance rate of 69.5 percent on Saturday, which was almost the same as the 69.6 percent recorded over the previous weekend but again lower than the 74.1 per cent recorded over the same weekend last year.
"Saturday was the lowest clearance rate recorded this year," he said.
"A total of 748 homes were listed for auction at the weekend, which was slightly lower than the previous weekend’s June record 793 but well ahead of the 631 auctions over the same weekend last year.
"Given unprecedented winter supply, clearance rates still close to 70 per cent reflect underlying demand for property in Sydney."
