Sydney Home Auction Clearance Rate Falls to 47.3% as Property Tax Reforms Pass
Updated
Updated · Bloomberg · Jun 28
Sydney Home Auction Clearance Rate Falls to 47.3% as Property Tax Reforms Pass
3 articles · Updated · Bloomberg · Jun 28
Summary
Sydney’s preliminary weekend home auction clearance rate fell to 47.3%, its weakest reading since April 2020 and the clearest sign yet of a cooling housing market.
Cotality data also showed Melbourne at 40.2%, the city’s lowest clearance rate since September 2021, reinforcing the broader softening across major markets.
The weaker auction results came as property tax reforms unveiled in the May budget passed through parliament, adding a fresh policy shift to an already slowing market.
The figures sharpen the housing side of Australia’s inflation outlook, suggesting softer demand may be spreading beyond isolated local weakness.