The Great Australian Property Bust… For How Long?

The evidence is gathering that the Australian property market is continuing to wilt, as buyer sentiment remains subdued. And the truth is, we are probably only in the foothills of the property bust so far. This week’s preliminary auction clearance rate was 52.4 per cent across 1421 auctions, according to Cotality research. It’s the third week in a row the country’s early clearance rate has held in the low-50-per cent range. However, it did notch up slightly from 50 per cent from the previous week. The true clearance rate which we calculate comparing the listing to reported successful auctions came in at a low 40.5%, which suggests the final results for the week will remain in very weak territory – to the extent that auction clearance rates are meaningful at all. I will cover the state details in a moment. Of course, listing numbers holding are still quite high as more stock is accumulating so supply is increasing, while demand is fading, and vendor activity is actually quite low, and it’s reducing. So desperate agents are now talking up the bargains out there, and the opportunity for informed buyers, saying transactions and sales are very hard to come by in this market. But FOOP – the fear of overpaying is gripping the market. I will be discussing this with Edwin on our Monday evening property rant. And on Tuesday for my live show, I will be joined by Leith van Onselen from Macrobusiness to look at the underlying economic and political drivers of the housing meltdown and ask how long will this continue. http://www.martinnorth.com/ Details of our one to one service are here: https://digitalfinanceanalytics.com/b... Go to the Walk The World Universe at https://walktheworld.com.au/ Find more at https://digitalfinanceanalytics.com/b... where you can subscribe to our research alerts Please consider supporting our work via Patreon:   / digitalfinanceanalytics   The full detailed set of post code data is available as a subscription service. Or make a one-off contribution to help cover our costs via PayPal at: https://www.paypal.me/MartinDFA We also can receive bitcoins at: 13zBL1oRib9VJu8Uc9zUGNhxKDBBgUpDN1 Please share this post to help to spread the word about the state of things.... Caveat Emptor! Note: this is NOT financial or property advice!! 🚨BEWARE OF SCAMMERS🚨 As there are accounts impersonating Walk The World in the comments on YouTube, note that our comments will have a distinguishable verified symbol. And remember that we will never message you asking you to give us money or talk to us on other platforms such as WhatsApp or Telegram