'With the recent, small, falls in Sydney house prices, 0.7% for houses last month which is 10% PA, the pain may be starting to hit the largest market.'
With the Sydney clearance rate below 60% today, it will be interesting to see the headlines over the next few days. It may be a blip, but if you plot out the clearance rate over the past few months, it looks ugly over the past few weeks.
In Nov 2016 Sydney was hitting nearly 80%.
'A high number of sales coupled with a decline in listings brought Sydney’s preliminary auction clearance rate to 78.8 per cent;'
No doubt the real estate industry will sell this as 'a healthy opportunity for those who have struggled to enter the market'.
