Australia Home Auction Clearance Rate Falls to Six-Year Low

Australia's auction clearance rate declined to its lowest level in six years, according to market data. A public holiday in Melbourne and expectations of higher interest rates coincided with the decline in the residential real estate market. The clearance rate measures the percentage of properties that sell at auction relative to the total number of properties offered for sale.

• Bloomberg — Australia Home Auction Clearance Rate Falls to Six-Year Low

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