Auction clearance rate dips below 50 per cent as investors fear further rate hikes
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REA Group Senior Economist Angus Moore says the RBA’s three rate hikes have significantly impacted auction clearance rates, which have dropped below 50 per cent across Australia over the past five weeks. “That’s clearly weighing on home prices, it’s weighing on sentiment, that’s showing up in market conditions,” Mr Moore told Sky News Business Reporter Edward Boyd. “The fact we're expecting further rate hikes is probably factoring in as well.” In partnership with realestate.com.au.
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