26 Jul '18, 1am

Is the Aussie real estate boom over?

Though it is still winter down under, the Australian real estate sector has been red hot. But perhaps the circumstances are changing. Sydney, Australia Attendance at property auctions dwindling Many property auctions, even in the most popular cities such as Sydney and Melbourne, are now less well-attended. In the past 2 to 3 months, auction clearance rates have been 50% range, which is low considering attending these auctions are somewhat of a national pastime. Much of it would also be attended by foreign investors though the rules for foreign home ownership is now much stricter than before. The recent market-cooling may not yet be too much of a concern for a sector which has grown for the past 27 years without a downturn. But the weakness in the Australian housing market has caused some economists to sound alarm bells. As the real estate sector has fuelled much of Austral...

Full article: https://www.iproperty.com.sg/news/is-the-aussie-real-esta...

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