Murray Olds: Australian correspondent on the decline in property auction rates

Recent data out of the Australian property market shows auction rates have hit a historic low point. New figures from property research firm Cotality show a preliminary clearance rate of 49.2 per cent for the past week - with fewer homes finding a buyer. Australian correspondent Murray Olds says the recent Budget has made investors less confident in the housing market. LISTEN ABOVESee omnystudio.com/listener for privacy information.