Property prices fall as clearance rates rise

National auction clearance rates have risen above 55 per cent while property prices continue to fall, with markets experiencing a significant correction of around 10 per cent overall. The property market is seeing reduced investor activity following budget changes to negative gearing, creating opportunities for owner-occupiers in a less competitive environment. The RBA interest rate decision is expected to hold steady, with most economists predicting no increase due to inflation being under control and reduced consumer spending.See omnystudio.com/listener for privacy information.