Auctions Slump to Fresh Low as Home Buyers Walk Away
Auction success rates have dropped to a fresh post-pandemic low as would-be home buyers sit on their hands in the falling property market. Research group Cotality’s latest results show clearance rates have continued to slide as the number of auctions rises nationwide. The combined preliminary clearance rate across the capital cities fell to 44 percent [...]
TL;DR
- Auction success rates have fallen to a post-pandemic low.
- Preliminary clearance rates across capital cities reached 44 percent.
- This is the weakest result since April 2020.
- The number of auctions has increased nationwide.
- Would-be home buyers are hesitant in the falling property market.