Spring is typically the strongest season for the Australian Property Market and 2015 has been a year of the investor activity but since July it has become increasingly more difficult and expensive for investors to access funding.
Knowing this it should be a surprise that auction clearance rates in every capital city have dropped from again during November. What is more concerning is the continual weekly decline throughout the month to finish on all 2015 lows.
The average auction clearance rate for Australia in November was 48.69% with only two Victoria (67.25%) and Australian Capital Territory (66.75%) above the 60 percent level. This could potentially mean great buying opportunities early in 2016 particularly if the RBA maintain the current cash rate of 2% or reduces.
Rental Yields are still strong with vacancy rates remaining low. Darwin still the standout for both housing and apartment rental yields over 5%.