There were 803 homes taken to market across the combined capital cities this week, with a preliminary auction clearance rate of 51.3%.
Results were lower than last week’s 1,161 auction volumes and final auction clearance rate of 58%.
One year ago, 904 homes were taken to auction returning a final clearance rate of 53.8%.
The lower weighted average could partly be due to weaker results across the smaller capital cities with all returning preliminary clearance rates below 50%, according to CoreLogic.
Melbourne and Sydney preliminary clearance rates, meanwhile, came in at 64.7% and 62.8%, respectively.
Victoria's capital recorded 216 auction volumes this week, substantially lower than the 730 auctions held last week when 61.6% sold.
New South Wales' capital registered a total of 310 auctions— down on last week when 677 homes were taken to auction and 61.8% cleared as of final figures.
"As more auction results flow through, we could see the final clearance rate drifting below the 60% mark across the two largest auction markets," CoreLogic said.
Adelaide returned the strongest preliminary clearance rate among smaller auction markets. The city recorded a preliminary clearance rate of 42.9%, while only 22.9% of homes sold across Brisbane.
