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The Guardian - AU
The Guardian - AU
National
Peter Hannam

Auction clearance rates tumble as rising interest rates sap Australian homebuyers’ appetite

Australia CoreLogic Interest Rates Sydney Melbourne Peter Hannam Tim Lawless CBA RateCity RBA
Auctioneer with hammer
The auction clearance rate sat at 60.8% between April and June of this year after hitting a record high of 80% in March 2021. Photograph: Lisa Maree Williams/Getty Images

Australia’s real estate market continued to cool in the June quarter as rising interest rates sapped buyers’ appetite, with almost one in five homes to be auctioned in Sydney removed from the market, according to CoreLogic.

The property data company said in its latest Quarterly Auction Market Review that Australia-wide auctions from April to June totalled 31,439 – the second most for the June quarter on record.

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