Sydney auction market

Adelaide recorded a clearance rate of 75.9 per cent last week as "very, very keen purchasers" get serious.

Sydney and Melbourne auction clearance rates are languishing as buyer demand softens.

“The last weekend in October is likely to see the highest number of auctions held in a single weekend since March 2016," says REIV CEO, Gil King.

The heat's gone out of the market, but the depth of buyers will prevent prices from falling dramatically, says Alexander Phillips of Phillips Pantzer Donnelley.