The clearance rate from this weekend’s 560 auctions was 67 per cent, a result that is remarkably consistent with the past few weeks indicating that the market has settled at a new level this winter.

Buyers continue to have the upper hand; homes selling at auction are not exceeding vendors’ reserves in the same way that they were before Anzac Day.

There were a total of 560 auctions reported this weekend with 375 selling and 185 being passed in, 123 of those on a vendors bid.

This weekend last year saw a total of 382 auctions held and clearance rate of 86 per cent achieved, higher than this year but with fewer auctions.

The next 3 weekends have around 550 auctions each weekend with a drop the following weekend, to around 130 at this moment, due to the Federal election.