The fear of paying too much as interest rates rise and prices fall is playing on the minds of property buyers, says Ray White boss Dan White, as auction clearance rates ticked up slightly over the past week, but auction volumes fell more than 20 per cent to fewer than 1500 homes.

“There are still a lot of buyers in the market, but they are very concerned about overpaying. They want to know where other buyers are at,” Mr White told The Australian Financial Review.