The traditionally busy spring selling season ended with a whimper as auction clearance rates fell to the lowest this year amid weak buyer demand and expectations of 5 per cent house price declines in Sydney and Melbourne next year.
This week was a big test of demand, with more than 1000 auctions scheduled in Sydney and Melbourne, and over 2600 scheduled nationally.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
