Auction Results 22 July 2023 -

The winter auctions in Australia are still generating good results for the property owners. Markets in all major cities have shown good results except Melbourne. The Victorian government has implemented new rules that impact the property owners, forcing them to pay more tax on investment properties. The change in rules were certainly visible in the Auction Results 22 July 2023. With banks still hiking the home loan interest rates, the buyers in the market still keen to purchase their first home.

This increase in property rates and loan interest is not a hindrance for first home buyers, but it is impacting the renters who are still facing a shortage in listed vacancies.

If we look at this week’s clearance rate in Canberra and Brisbane, both has delivered a strong demand and fantastic results for sellers. It is also an indication of more people moving out of NSW and VIC in the search for a better living environment that is less stressful compared to NSW and VIC.

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