Why have auction clearance rates risen for two months in a row?
The auction clearance rate has edged higher for two months in a row as home sellers reduce their price expectations to meet those of cautious buyers.
Auctioneers have noticed the occasional hot auction starting to creep back in, but many buyers are unable or unwilling to overpay as their borrowing capacity falls along with prices.
Across capital cities, September’s clearance rate reached 58.9 per cent on Domain figures, up from 52.9 per cent the previous month and its trough of 49.6 per cent in July.
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