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1.Market Observations, 8.Was Sticky

26 Nov 2018 (AFR) – Auction clearances stall at 40pc as house price threat to consumption emerges

(26 November 2018, AFR, p3, by Su-Lin Tan)

‘Sydney and Melbourne have entered a third month of auction clearance rates stalling around the 40 per cent level, cementing a worrying trend in the residential property market that has invited parallels with the lean years following the global financial crisis. Last week’s auction clearance rates cements the falling trend in house prices with Sydney likely to post a final 45 per cent result following a preliminary 52 per cent, and Melbourne on track for a similar clearance at a preliminary rate of 44 per cent, according to Corelogic.’

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

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