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Auction clearance rates drop, but experts say it's good news for first home buyers
Key takeaways
- Auction clearance rates have decreased around the country following changes to negative gearing and capital gains tax.
- Changes to negative gearing and capital gains tax were announced earlier this month, coinciding with auction rates nationwide dropping to around 50 per cent.
- Cotality research director Tim Lawless said the market was already cooling before budget night.
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Auction clearance rates have decreased around the country following changes to negative gearing and capital gains tax. (ABC News: Ashlin Blieschke)
Link copied Share Share article Negative sentiment around the property sector has started to make its way into the marketplace since the federal budget, but real estate experts say it may prove to be good news for first-home buyers.
Changes to negative gearing and capital gains tax were announced earlier this month, coinciding with auction rates nationwide dropping to around 50 per cent.
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