Residential
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Price movements
Australian house prices fall as higher interest rates constrain buyer budgets
Australian house prices entered an annual decline in October, with the national median price falling 1.4 per cent to $960,000. Major capital city values dropped 5.3 per cent annually, as elevated interest rates continued to reduce buyer borrowing power nationwide.
Listings activity
Listings drop as cautious homeowners withhold new stock
New property listings contracted in October as homeowners hesitated to sell into a softening market. Listing authorities plunged 11.1 per cent to 7,560, sitting 22.9 per cent lower annually, while total active listings tracked 1.6 per cent below last year.
Open home attendance
Open home attendance drops to three-year low
Open home inspections weakened across Australia in October, defying normal spring trends as buyer foot traffic slumped. The national average fell to 1.9 attendees per property, down from last year's 3.9 and marking the lowest reading recorded across three years.
Auction insights
Auction clearance rates plunge as bidding softens
Auction clearance rates fell sharply to 39.0 per cent in October, dropping below 40 per cent for the first time this year. Active competition thinned to 1.5 bidders per auction, halving last year's level and leaving buyers with substantial negotiating leverage.
