Auction clearance rates slump to two-year low before rate rise - The Australian Financial Review

As the Reserve Bank of Australia prepared to raise rates by an expected half a percentage point on Tuesday, sales hit their lowest level since April 2020.

The trend in clearance rates remains down and is likely to fall further, reflecting poor affordability, rising mortgage rates and weak buyer confidence, said AMP Capital chief economist Shane Oliver.… [+3001 chars]

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