Published: October 21, 2018
City’s housing market now facing toughest conditions since global financial crisis
Sydney’s housing market is facing the toughest conditions since the global financial crisis after auction rates slumped again at the weekend, with analysts predicting that the slowdown could get much worse in the months ahead.
Australia’s biggest city saw only 44% of 567 listed properties sold at the weekend, according to Domain, the lowest preliminary clearance rate for a decade. The figure is likely to be revised down below 40%, a level of downturn not seen for a decade.
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