Uncertainty rises in housing market as national clearance rate plummets

Australia's housing market has seen auction clearance rates fall to 50.7 per cent which reflects a slowdown in buyer activity.

REA Group Senior Economist Elanor Creagh speaks on the national clearance rate fall.

“We have seen that market conditions have shifted very quickly from the buyer's perspective," Ms Creagh told Sky News Business Editor Ross Greenwood.

“We've had two back-to-back interest rate rises in February, and in March, we've got further interest rate rises expected throughout the year, and some uncertainty is to exactly how many.

“A lot of these properties heading to auction over the past couple of weeks are probably campaigns that were prospected towards the end of last year … when conditions hadn't shifted."

In partnership with realestate.com.au

Видео Uncertainty rises in housing market as national clearance rate plummets канала Sky News Australia