Australian Property Market not Quite Bagged and Tagged Just Yet
Dow Jones
Aug 10
0628 GMT - Finding the Australian property market's pulse has been difficult in recent months, but there are still vital signs. The preliminary auction clearance rate across the combined capitals rose to 55.1% last week, the highest in 11 weeks, after a low of 47.4% for the week ending June 21, says property research group Cotality. Despite this improvement, clearance rates remain well below the decade average of 68%, it adds. The property market might get some more good news on Tuesday, when the Reserve Bank of Australia likely leaves interest rates unchanged.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.