Cold feet and cooling prices: Australia’s property market is transforming – and first home buyers aren’t biting
Key takeaways
- Since late May, fewer than half of homes listed for auction each week have successfully sold.
- Get our breaking news email, free app or daily news podcast
- Prefer the Guardian on GoogleFirst home buyers are starting to step back and investor demand is slumping in all areas except new property, as Australia’s housing market enters a downturn.
Why this matters: a developing story that could shape the day's news cycle.
Since late May, fewer than half of homes listed for auction each week have successfully sold. About 40% of listed homes are being sold before auction. Photograph: Lisa Maree Williams/Getty Images View image in fullscreen Since late May, fewer than half of homes listed for auction each week have successfully sold. About 40% of listed homes are being sold before auction. Photograph: Lisa Maree Williams/Getty Images Housing Cold feet and cooling prices: Australia’s property market is transforming – and first home buyers aren’t bitingExclusive: Data shows buyers are not rushing to get into the market, despite lower prices and less competition
Get our breaking news email, free app or daily news podcast
Prefer the Guardian on GoogleFirst home buyers are starting to step back and investor demand is slumping in all areas except new property, as Australia’s housing market enters a downturn.