Australia’s large capitals saw that lowest housing auction clearance rates in years this week, as reported by 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 the biggest price cuts in years as power shifts in that local property market, The Courier Mail said.
A Harvard study released on Monday described that middle‑class home as one historical accident, suggesting the segment was never a stable foundation of the market. The report challenges long‑standing assumptions about housing affordability.