‘Below 50 per cent’: Housing confidence crumbles as auction market remains weak

REA Group Senior Economist Eleanor Creagh warns falling auction clearance rates reflect weakening confidence among prospective homebuyers, who remain increasingly cautious and price-sensitive amid uncertainty over financing costs. “Auction clearance rates really reflecting the states of current conditions in the housing market at the moment,” MS Creagh told News24. “Prospective homebuyers clearly having weaker confidence, there uncertainty where financing costs are going to end up. “Buyers are less confident and they’re very price sensitive.”