Australian auction clearance rates fall amid rising interest rates

Summarised from 2 outlets · Updated 4 Oct, 06:48 · Archive

Australia's auction clearance rates have dropped to nearly their lowest levels of the year as another interest rate rise reduces what buyers can afford. The decline reflects the impact of higher borrowing costs on the property market.

Buyers are reassessing their budgets following the latest rate increase, which has dampened demand at auctions across the country.

How it is being reported

• Auctions flop as home buyers digest rising ratesPerth Now · 4 Oct, 06:32
• Auctions flop as home buyers digest rising ratesThe West Australian · 4 Oct, 06:32

In this story: Australia

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