Business & Finance
Australia Home Auction Clearance Rate Falls to Six-Year Low
Key Points
Australia Home Auction Clearance Rate Falls to Six-Year Low Australia’s auction clearance rate fell to a six-year low as a public holiday in Melbourne and the threat of higher interest rates weighed on the nation’s residential real estate market. A total of 1,735 homes were taken to auction in the nation’s capital cities in the past week, down 7.3% from a week earlier and 17.7% lower than the same period last year, according to preliminary data from property researcher Cotality.
Australia Home Auction Clearance Rate Falls to Six-Year Low
Australia’s auction clearance rate fell to a six-year low as a public holiday in Melbourne and the threat of higher interest rates weighed on the nation’s residential real estate market.
A total of 1,735 homes were taken to auction in the nation’s capital cities in the past week, down 7.3% from a week earlier and 17.7% lower than the same period last year, according to preliminary data from property researcher Cotality.