ACT house prices are 'flattening out' as auction clearance rates hit lowest level since 2020

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ACT house prices are 'flattening out' as auction clearance rates hit lowest level since 2020
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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.

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