{"id":798092,"date":"2026-07-13T18:39:31","date_gmt":"2026-07-13T18:39:31","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/798092\/"},"modified":"2026-07-13T18:39:31","modified_gmt":"2026-07-13T18:39:31","slug":"number-of-properties-listed-for-auction-slides-8-7-per-cent-as-labors-tax-changes-interest-rates-rises-take-their-toll","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/798092\/","title":{"rendered":"Number of properties listed for auction slides 8.7 per cent as Labor’s tax changes, interest rates rises take their toll"},"content":{"rendered":"

Australian property owners are veering away from auctions as three rate hikes and major property tax changes rattle the market.<\/p>\n

New data from analytics firm Cotality showed the number of auctions fell 8.7 per cent last week to 1318.<\/p>\n

The number of auctions in Sydney fell by 18.7 per cent to 452, while Adelaide experienced a 25.9 per cent drop to 83 auctions.<\/p>\n

It came as preliminary auction clearance rates for Australia\u2019s capital cities rebounded to a seven-week high of 54.8 per cent after tracking below 50 per cent for three weeks.<\/p>\n

However, this remains well below the decade average of 65 per cent.<\/p>\n

The number of auctions was influenced by the seasonal trend of winter school holidays, but the total rate was also eight per cent lower than during the corresponding week in 2025.<\/p>\n

Ray White\u2019s CEO of performance and value Thomas McGlynn said it would be clearer how well the property market had rebounded after the school holidays.<\/p>\n

\u201cOpen for inspection numbers have stabilised, auction volumes are down, and there\u2019s not a huge amount of good value property available,\u201d Mr McGlynn told The Australian Financial Review.<\/p>\n

\u201cThe real test will be after the school holidays in Sydney and Melbourne when more properties are listed.\u201d<\/p>\n

Melbourne reported a slight uptick in the number of homes being listed while Brisbane experienced a 7.6 per cent rise.<\/p>\n

The clearance rate downturn comes as the property market is weakened by three interest rate rises since the beginning of the year and warnings that more could be on the horizon.<\/p>\n

Westpac says another hike will arrive in August<\/a> followed by another in September.<\/p>\n

This would bring the cash rate to 4.85 per cent.<\/p>\n

\"First-home<\/p>\n

Labor\u2019s upcoming changes to capital gains tax and negative gearing have also weighed on the property market.<\/p>\n

The Albanese government has scrapped the 50 per cent capital gains tax discount, replacing it with an inflation adjusted model with a 30 per cent minimum rate.<\/p>\n

It is also restricting negative gearing to new builds or properties purchased before budget night.<\/p>\n

This is also sending property prices plummeting.<\/p>\n

Property prices fell 0.4 per cent in May<\/a>, while Sydney and Melbourne experienced 3.2 and 2.6 per cent falls respectively in the June quarter.<\/p>\n

HSBC\u2019s chief economist Paul Bloxham said the downturn would continue as buyers avoid entering a market where property values are sinking<\/a>.<\/p>\n

\u201cThis is just the beginning,\u201d Mr Bloxham said in a statement.<\/p>\n

\u201cThe recent big shifts in tax policy concerning investment properties, as well as the RBA’s earlier three rate hikes, have rapidly sapped investor demand from the market.<\/p>\n

\u201cAs we see it, first home buyers and other owner-occupiers are unlikely to want to try to ‘catch a falling knife’.\u201d<\/p>\n

Mr Bloxham noted that prices could fall about eight per cent by the end of 2027 as there remains no sign of a \u201ccircuit breaker\u201d in the market.<\/p>\n

\u201cWith no rate cuts expected anytime soon (there is still some risk of another hike), we expect no near-term circuit breaker, which means the housing price correction is likely to continue for some time yet,\u201d he said.<\/p>\n

\u201cWe see national prices falling in H2 2026 and by 2-6 per cent over 2027 – implying a correction of up to eight per cent over that period.<\/p>\n

\u201cThe pace of decline in the June figures suggests the risks to this view look tilted to the downside too. Hold onto your hats.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Australian property owners are veering away from auctions as three rate hikes and major property tax changes rattle…\n","protected":false},"author":2,"featured_media":798093,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99,53975,32364,374853,4686,11151,1003,670,348282],"class_list":["post-798092","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-business","tag-clearance-rate","tag-cotality","tag-melbourne-real-estate","tag-property","tag-property-market","tag-real-estate","tag-sydney","tag-sydney-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/798092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=798092"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/798092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/798093"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=798092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=798092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=798092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}