Auction Clearance update - both Seasonality and Policy issues have contributed to this trend.
📢 "Melbourne and Sydney property prices are expected to fall by as much as 9 per cent by the end of 2026 as experts warn a years long property correction is under way, caused by interest rate hikes, global instability and Labor’s proposed changes to property taxes"
"Auction clearance rates remained subdued at below 60 per cent, with buyers displaying caution almost two weeks after federal Treasurer Jim Chalmers unveiled his landmark overhaul on property taxes – ending the 50 per cent capital gains discount and axing negative gearing for established dwellings."
SQM’s Louis Christopher said: "Based on our modelling, housing prices are likely to fall up to 9 per cent in our two largest capitals this calendar year,” he said. “The live reality on the ground is the housing market is tanking in Sydney and Melbourne"
- Bonnie Campbell, AFR (article link in comment)
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