Sales volumes and clearance rates down in Melbourne and Sydney as auction buyers took Queen’s birthday weekend off

Buyers absented themselves from the Queens Birthday long weekend auctions in the major capital cities.

Sydney agents secured a 50% clearance rate, down from 55% previous weekend, according to Australian Property Monitors.

There were just the 195 Sydney listings against last weekend’s 359, and next weekend its jumps back to about 420.

With just the 130 listings, Melbourne buyers were equally absent as the clearance rate dropped from 58% to 50%, according to the Real Estate Institute of Victoria.

The REIV expects 600 auctions for the next two weekends.