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Weak auction markets point to falling house prices

Nick Lenaghan
Nick LenaghanProperty editor

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Auction clearance rates have fallen to their lowest level this year, a sign that house prices are likely to fall in the biggest markets of Sydney and Melbourne.

Disruption from the school holidays, along with the AFL Grand Final in Melbourne, have distracted buyers in an already patchy market. Potential purchasers are worried that much-anticipated relief from high interest rates will be postponed until next year.

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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com

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    Original URL: https://www.afr.com/property/residential/weak-auction-markets-point-to-falling-house-prices-20240929-p5kebh