Auction clearance rates falling

Falling auction clearance rates may be a sign that the housing boom is coming to an end, according to CPM Research. The property monitor says that clearance rates in Sydney fell from 84 per cent in April this year to 75 per cent in June, with the fall consistent all around the city.

While auctions of units, houses and semi-detached properties all experienced a decline in clearance rates last month, the most pronounced drop was for units, which fell by 10 percentage points from May to June. But the North Shore, which has not been doing so well recently, actually improved in June.