Clearance rates dropped to their lowest level so far this year as global uncertainty over tariffs, equities and bond markets hit the confidence of home buyers just as auction volumes rose to their highest in a year, Cotality figures on Sunday showed.

The preliminary clearance rate across the capital cities dived to 64.8 per cent, based on the reported 2220 results of 3146 scheduled auctions, from the previous week’s initial read of 70.7 per cent, the data provider, formerly known as CoreLogic, said.