Home buying demand plunges as auction clearance rates fall below 50 percent

Home buying demand has sharply declined as buyers retreat and auction clearance rates fall. During the recent Anzac weekend, Sydney's auction rate dropped below 50 percent, while Brisbane's hit just 37 percent. Experts indicate this trend suggests a forthcoming drop in property prices, exacerbated by rising interest rates and inflation concerns.

Summary by Glance · Brisbane Times