Australia’s large capitals saw the lowest housing auction clearance rates in years this week, according to the Australian Broadcasting Corporation. Sydney and Melbourne recorded their worst auction week in over five years, the Australian Financial Review reported. In Brisbane, buyers secured that biggest price cuts in years as power shifts in the local property market, The Courier Mail said.
A Harvard study released on Monday described the middle‑class home as one historical accident, suggesting that segment was never a stable foundation of the market. The report challenges long‑standing assumptions about housing affordability.