The prospect of another interest rate rise has shaken buyers’ confidence, sparking a drop in clearance rates across the combined capital cities.
The prospect of another interest rate rise on Melbourne Cup day has shaken buyers’ confidence, sending auction clearance rates to their lowest level in seven months, data from CoreLogic shows.
This comes as the number of homes taken to auction soared to 3383, which is the largest volume since the week before Easter last year. Nearly one in four properties taken to auction were passed in, suggesting the lower clearance rate was mostly a factor of buyers losing confidence or becoming less willing to meet vendor price expectations, Mr Lawless said., clearance rates fell by 3.4 percentage points to 70.8 per cent as auction volume jump by 22.2 per cent to 1086.
This three-bedroom, two-bathroom house at 5 Elm Grove, Armadale in Melbourne’s inner south-east sold for $5.45 million, which was over $1 million above the reserve price. The house sold for $2.9 million, which was $400,000 above the reserve after fierce competition among four active bidders according to lead agent Nick Karvouniaris of Ray White Dulwich Hill.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rugby Australia’s woes have cost the code Angus CrichtonThe NRL star has abandoned plans for a code switch, which will put the Sydney Roosters under salary cap pressure for next season.
Read more »
Rugby Australia’s woes have cost the code Angus CrichtonThe NRL star has abandoned plans for a code switch, which will put the Sydney Roosters under salary cap pressure for next season.
Read more »
Rugby Australia’s woes have cost the code Angus CrichtonThe NRL star has abandoned plans for a code switch, which will put the Sydney Roosters under salary cap pressure for next season.
Read more »
Australia China relations: How the World Trade Organisation helped Australia repair its trade ties with ChinaAustralia’s resistance to Chinese coercion helped win the trade war, but the international trade organisation’s role should not be underplayed.
Read more »
Best homewares Australia: Temple & Webster shares its nine best-selling items in Australia7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Peta Credlin blasts PM for prioritising ‘diplomatic rounds’ over cost of livingSky News host Peta Credlin has called on Prime Minister Anthony Albanese to spend less time doing the “diplomatic rounds” and focus on improving the cost of living crisis.
Read more »