Rate rises, construction costs cause auction jitters - The Age

The home passed in on a bid of $1.52 million but sold post auction on the first weekend after the Reserve Bank raised interest rates for the second time in two months.

It was the second Saturday in a row with a preliminary clearance rate below 60 per cent, which is a level that broadly correlates with a balanced market. When the rate tracks below 60 per cent, price… [+2985 chars]

full article...