The residential auctions market has remained flat as consumer confidence has continued to wane.
According to the Real Estate Institute of Victoria, Melbourne only recorded a clearance rate of 59%, compared to 61% last week and 56% this time last year. There were 586 auctions reported.
Australian Property Monitors has reported a slightly more disappointing result for Sydney, with a 56.9% clearance rate from 442 listings, while Adelaide and Brisbane recorded rates of 38.9% and 42.1% respectively.
This article first appeared on SmartCompany.