7:57 PMBloomberg Markets
Australian Home Auctions Decline as Rate Hikes Dampen Activity
Summary
The number of homes offered at auction in Australia fell over the past week as interest rates reached a 15-year high. Higher borrowing costs are weighing on housing-market activity.
The immediate shift is weaker auction supply, signaling that sellers and buyers are becoming more
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A sustained drop in auctions would point to a less liquid housing market and delay the effect of interest rates on prices.