The number of Sydney home auctions that ended in a sale fell to its lowest rate in 10 months in the week ended 18 October.
The latest auction clearance rate of 66.6% was the lowest since December, and is down sharply from a peak of around 90% in April, property researcher CoreLogic said.
The news comes as the country’s central bank notes an oversupply of housing in some areas and says the market could be slowing. SQM Research is describing houses in Sydney as 40% overpriced and says it expects house price growth there to slow to between 4% and 9% next year.
