Auction activity freezes
The winter chill is having a negative impact on Australian home buyers, with auction clearance rates falling below 50 per cent in some states.
In Melbourne, just 47.9 per cent of properties cleared over the weekend – a far cry from the 61.2 per cent recorded this time last year.
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And the story was just as grim in Brisbane, where just 23.1 per cent of properties sold under the hammer.
Of the 13 properties listed for auction, just 3 managed to sell at the weekend.
The news was a little better in Sydney, with the capital city recording a clearance rate of 52.8 per cent.
A $1.4 million, four bedroom house in the Sydney suburb of Turramurra was the most expensive property sold over the weekend, while the most affordable property sold in the capital city was a $250,000, two bedroom unit in Cabramatta.
