Auctions hit slump

AUCTIONS on the Gold Coast have recorded a below average clearance rate this week.

According to the latest Core Logic data, the preliminary clearance rate was 40 per cent across 25 results.

The final week of auction reporting for 2017 recorded a preliminary auction clearance rate of 64.2 per cent across the combined capital cities, with the number of homes taken to auction in the larger markets falling after a surge in activity over the four weeks prior.