Auction clearances bounce in fresh worry for RBA
Auction results show there’s little holding the market back. That will be on the RBA’s mind as it considers whether and when to move on rate cuts.
About three-quarters of homes put up for auction sold in the past week, a further sign of strength in the housing market as prices grind relentlessly higher and the prospects for an early rate cut dim.
With around two-thirds of results from scheduled auctions collected, the national clearance was at 75.9 per cent, with Sydney at 81.6 per cent and Melbourne at 70.6 per cent, on CoreLogic numbers.
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