Auction clearance rates across Australia remain below 50% for a third straight week, according to reports drawing on recent market data. The decline is attributed to weaker buyer confidence amid higher interest rates and changes to taxes affecting property owners and prospective sellers. All three sources describe the same nationwide trend: auction results are not meeting the 50% threshold for clearing listed properties at auctions, and this is continuing week to week. The West Australian and PerthNow link the lower clearance performance to the combined impact of rising borrowing costs and tax measures introduced under the current Labor government, while Daily Mail frames the tax changes as a political issue but still points to the same underlying data trend. The reporting indicates that sellers are facing more challenging conditions at auctions, with fewer properties selling than in periods when clearance rates were higher. The sources do not provide details on which cities or property segments drove the changes, but they consistently cite the national clearance-rate drop and the third-week continuation.
Australia’s auction clearance rates fall below 50% for third consecutive week
Auction clearance rates across Australia remain below 50% for a third straight week, according to reports drawing on recent market data. The decline is attributed to weaker buyer confidence amid highe...
- Auction clearance rates across Australia stay below 50% for a third consecutive week.
- The decline is reported as continuing nationwide across the auction market.
- Higher interest rates are cited as a factor weakening buyer confidence.
- Tax changes are also cited as contributing to reduced confidence among buyers and sellers.
- Cotality data is referenced as the basis for the reported figures.
New data from Cotality showed continued bad news for property owners hoping to sell at auction.
3 months agoAuction clearance rates across the country have dropped below 50 per cent for a third straight week, as rising interest rates and tax changes continue to erode buyer confidence.
3 months agoAuction clearance rates across the country have dropped below 50 per cent for a third straight week, as rising interest rates and tax changes continue to erode buyer confidence.
3 months ago
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