Sydney auction market crumbles with 57.5 per cent clearance rate

[muppet]

Sydney auction market crumbles with 57.5 per cent clearance rate

Sydney’s crumbling auction market reached a new low on Saturday,
recording the lowest clearance rate in years.

There were 873 homes scheduled to go under the hammer on Saturday.
By Saturday evening Domain Group had collected 560 results and put
the clearance rate at 57.5 per cent – down significantly on last weekend’s 62.6 per cent.

Read more at

http://www.domain.com.au/news/sydney-auction-market-crumbles-with-575-per-cent-clearance-rate-20151121-gl4jlw/

[eri]

also from that link

New laws to clamp down on Melbourne CBD’s skyscrapers

won’t stop a predicted drop in prices of up to 20 per cent in the next three years,

get out as soon as possible [otherwise] it will take 10 to 15 years before you get your money back

small apartments in larger blocks with little natural light would be those hardest hit,


Domain Group senior economist Andrew Wilson did not predict any significant drop in prices for inner city apartments.

local buyers typically require decent levels of cash flow and a steady tenant

offshore buyers were “a whole new ball game” and were more than happy to keep apartments vacant.

http://www.domain.com.au/news/no-stopping-melbourne-cbd-oversupply-get-out-as-soon-as-possible-20150908-gjhbqi/

[Davo36]

The sky is falling!

I won't believe it until I see it.

[propertysearch]

Read more at
http://www.domain.com.au/news/sydney...151121-gl4jlw/

Crap. Houses are still selling. Just not as fast. Thank the media for the next beat-up....orchestrated by the government one might think.

[Damap]

Over 50% clearance is hardly bad. May just be a reflection of jacked up expectations caused by agents.

[PTILoveYou]

It's just a reflection of a market void of foreign chinese buyers

[DaveW]

I've noticed Auckland normally lags a year behind Sydney trends and apartments are normally the most volatile of the lot.

[Bluecoat]

Apartment lender AMP blacklists more than 140 suburbs

http://www.domain.com.au/news/apartment-lender-amp-blacklists-more-than-140-suburbs-20160323-gnp7c0-2/