Auction clearance rates in Canberra drop to the lowest levels since 2020, amid predictions the ACT is reverting to a buyers' market.
Auction clearance rates in Canberra have dropped to their lowest level since 2020, and that, coupled with stalling growth in house prices, has led to predictions the ACT is reverting to a buyers' market.The number of new property listings in Canberra was down 4.8 per cent in June compared to MayHe predicts house prices will start dropping in the months to come
"So it's quite clear that we are seeing a lot of strength coming out of Canberra's auction market that's also reflected in less growth in housing values as well." "The clearance rate is coming down to the low 50 per cent range, potentially even finalising below 50 per cent as more results flow through," he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
St Basil's charged after deadly COVID-19 outbreak in 2020An aged care facility in Melbourne's north, where 45 residents died from COVID-19 has been charged. 9News
Read more »
‘People are losing a fortune’: ACCC urges banks to act as scam losses surgeThe consumer watchdog has called on the major banks to adopt a key measure to prevent scammers from cheating money out of unsuspecting victims.
Read more »
‘People are losing a fortune’: ACCC urges banks to act as scam losses surgeThe consumer watchdog has called on the major banks to adopt a key measure to prevent scammers from cheating money out of unsuspecting victims. | hijessicayun SimoneFoxKoob
Read more »
Senior Council of Europe official urges UK not to repeal Human Rights ActCouncil’s commissioner for human rights says replacing act with British bill of rights would send ‘wrong signal’
Read more »
Classy act from Aussie UFC star's beaten foeOne of the greatest rivalries in UFC history is over - as Max Holloway declared Alex Volkanovski the world's best fighter. WWOS
Read more »
Stabbing victim calls for change to act that keeps him in the darkMark Pember believes the Mentally Impaired Accused Act, which allows a person to be acquitted if they are deemed unsound of mind, needs to be amended.
Read more »