Nov
11
Sydney Home Auction Clearance Rate Drops to Almost 3-Year Low
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Clearance rate falls to 58.4% for week ending Nov. 8
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Data adds to signs of home market pullback in biggest cities
Auction clearance rates of Sydney homes dropped to the lowest since March 2013 as a regulatory crackdown on mortgages and interest rate increases by banks put off buyers amid record prices.
The rate, an indicator of buyer demand, fell to 58.4 percent for the week ending Nov. 8, according to data from property researcher CoreLogic Inc. That compares with a peak of just over 90 percent in April in Sydney, where a third of all homes are sold through auctions…
Sydney Home Auction Clearance Rate Drops to Almost 3-Year Low
