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Major capital cities record worst housing auction clearance rates in years
Key takeaways
- New property data shows that fewer than half of all homes taken to auction found a buyer in the past week.
- Property clearance data from Cotality shows Sydney and Melbourne suffered major drops this week, with Brisbane faring the worst.
- Sydney's auction clearance rate was its lowest since April 2020, while Melbourne's fell to its lowest since the COVID-19 lockdowns of 2021.
Why this matters: an international story with cross-border implications worth tracking.
New property data shows that fewer than half of all homes taken to auction found a buyer in the past week. (ABC News: Ian Cutmore)
Property clearance data from Cotality shows Sydney and Melbourne suffered major drops this week, with Brisbane faring the worst.
Sydney's auction clearance rate was its lowest since April 2020, while Melbourne's fell to its lowest since the COVID-19 lockdowns of 2021.
Article preview — originally published by ABC Australia. Full story at the source.
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