🌧️Auction clearance rates remain firm at around 60% despite wet weather.
🏙️Smaller capital cities have limited stock on the market, leading to higher prices.
🏢Melbourne's market is lagging behind other cities due to more choice for buyers.
💰The Reserve Bank of Australia is expected to keep interest rates on hold.
📈Price growth and market conditions remain relatively strong across the country.
How have auction clearance rates been affected by the recent wet weather?
—Despite the wet weather, auction clearance rates have remained firm at around 60%.
What has been the impact of limited stock on the market in smaller capital cities?
—Limited stock on the market in smaller capital cities, such as Adelaide and Brisbane, has led to intensified competition and higher prices.
Why has price growth been slower in Melbourne compared to other cities?
—Price growth in Melbourne has been slower due to more choice for buyers, resulting in less competition and slower price increases.
What is the outlook for interest rates?
—The Reserve Bank of Australia is expected to keep interest rates on hold, as inflation pressures ease and consumer sentiment remains subdued.
How are market conditions across the country?
—Market conditions across the country remain relatively strong, with price growth and conditions holding firm.
00:15Over the past week, there were 2013 auctions held across the country, with an average clearance rate of 59.8%.
00:47Adelaide had a higher clearance rate of 75.4%, while Brisbane had a clearance rate of 57.8%.
01:11Despite the recent wet weather, auction clearance rates remain around 60% nationally.
02:20In markets like Melbourne, where there is more choice for buyers, price growth has been slower.
03:30The Reserve Bank of Australia is expected to keep interest rates on hold.
