Auctions fail their big weekend as clearances slide
The auction clearance rate dipped to its lowest level in almost five months over the weekend as homebuyers factored in the impact of another jump in interest rates.
On one of the busiest weekends of the year – 2667 homes were taken to auction this week, the highest number since May – the combined capital city auction clearance rate dipped to 57.9 per cent, according to CoreLogic, pointing to further price falls heading into next year, after dwelling values fell 5.2 per cent over the first 11 months of the year.
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