Sydney property market headed for ominous ‘30’ figure

PHOTO: This Newport beach house was one of the few Sydney homes selling. Photo: LJ Hooker

The traditional December auction slump seems worse than ever this year, with preliminary results showing a combined capital city clearance rate of just 43.1 per cent – the 10th consecutive week where less than half of homes taken to auction have sold.

Sydney’s weekend clearance rate sat at 41.4 per cent, Domain reported, with unreported results likely to see it fall into the 30s.

In Melbourne, 766 homes were listed for auction – down from 788 the previous week – with only 45.6 per cent sold.

READ MORE VIA THE NEW DAILY

View this post on Instagram

A post shared by Property Noise (@propertynoisenz)

https://propertynoise.co.nz/au/advertisingrates/