Cooling house market offers hope to first-time buyers
AUSTRALIA’S housing market is experiencing rapid downward pressure due to global conflict and the federal budget, but these conditions are unlikely to benefit renters. Just 51.1 per cent of homes auctioned across capital cities this weekend sold, compared with more than 60 per cent a year prior, according to Cotality data. Brisbane had the lowest figures, at 31.9 per cent, while just under 53 per cent of homes under then hammer in Sydney sold. The percentages are the lowest Australia has seen in five years, as the economy is strained by conflict in the Middle East and me