The combined capital city auction clearance rate has held below 60 per cent for more than six months as home buyers and sellers retreat from the market and cost-of-living pressures intensify, with more pain expected after last week’s interest rate rise.
Across the capital cities, the preliminary clearance rate for auctions was 51.5 per cent in the week to November 8. That was up 4.3 percentage points from the six-year low of 47.2 per cent the week before , but it was the 27th consecutive week it has been below 60 per cent, according to Cotality research.
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