As the housing market slows, there are three things not to do
The Australian housing market is experiencing a slowdown, with a noticeable drop in auction clearance rates. Despite concerns about potential price declines, many factors contributing to this trend are temporary. The market shift may ultimately provide more bargaining power to buyers after years of rapid price increases.
- ▪The share of homes sold at auctions across Australia last weekend was about 53 percent, down 12 percent compared to last year.
- ▪Some researchers predict house prices in Sydney and Melbourne could fall by as much as 9 percent this year, primarily due to temporary factors.
- ▪The current market dynamics are shifting towards a 'buyer's market', where buyers have more negotiating power.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.