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1.Market Observations, 8.Was Sticky

4 June 2018 (AFR) -Tighter lending driving Sydney’s auction clearance rates towards 50 per cent

(4 June 2018, AFR, p3, by Su-Lin Tan)

Trend of auction clearance rates (CoreLogic)

Trend of auction clearance rates (CoreLogic)

‘The Sydney housing market has dropped close to an auction clearance rate of 50 per cent, among its lowest points since before the most recent boom began, as it continues to grapple with tighter lending standards and weaker supply and demand. The city’s auction clearance rate closed at a preliminary 52.3 per cent at the weekend. Melbourne’s market, meanwhile, proved more resilient, with a clearance rate of 61.6 per cent, although both were lower than comparable weekends in the previous year, Corelogic data shows. Sydney’s rate is likely to come down further, to around…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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