Australia's auction clearance rate has slumped to a three-month low, while new data shows the number of unsold homes has surged by more than 20 per cent in the past year.
The observation of Sydney is just as much a sign that those selling their second or third property are refusing to lower their prices - and can afford to do so. That’s greed. Let them hurt until they have to lower prices to make first home ownership possible for younger generations, that’s the whole point.
Exactly - an alternative headline could be “Rich property owners not selling at auction as much because they are holding out for more money than people are willing and able to pay for their property”.
Exactly - an alternative headline could be “Rich property owners not selling at auction as much because they are holding out for more money than people are willing and able to pay for their property”.