Australian property auction clearance rates have fallen to their lowest point in six years, mirroring conditions seen during the initial stages of the COVID-19 pandemic. Data from CoreLogic indicates a significant downturn in seller success at auctions nationwide. Experts at CoreLogic anticipate this trend signals a continuing slowdown in the housing market’s momentum. The decline suggests weakening buyer demand and increased hesitancy amongst prospective homeowners. This downturn follows a period of robust growth in property values experienced during and immediately after the pandemic. Analysts are closely monitoring the situation to determine the extent and duration of this cooling phase, with potential implications for the broader economy. Further declines are predicted as interest rates continue to impact affordability.