Today’s trending stories in Australian home ownership and Home Loans.
- Apartment sales propping up Sydney’s grim auction market
Apartment sales are propping up Sydneys grim auction market, with less than half ofhouses now selling under the hammer in many parts of the city.
Just 50.8 per cent of all houses that went to auction across Sydney in May sold, while the results were stronger for apartments with a 58.2 per cent clearance rate.
While apartments have long recordedhigher clearance rates than houses, the gap between thetwo has widened in recent months, Domain…
- Former trade minister Andrew Robb, now consultant to Chinese billionaire, snaps up $4 million house
Andrew Robb, former Australian trade ministerturned consultantto Chinese billionaire,has boughta Cremorne Point house for almost $4 million.
The purchase, in wife Maureen Robbs name, is expected to be a permanent base for the couple, replacing their former Melbourne home in Brighton they sold a year ago for $2,655,000 in his former Goldstein electorate.
Robb retired as a Liberal minister in 2016 and walked straight into an $880,000…
- Melbourne property market: Units trump houses at auction for first time in 5 years
For the first time in five years, units are selling better under the hammer than houses.
Though clearance rates have declinedacross the city, new data showsapartments have recorded consistently higher clearance rates than freestanding dwellings since December.
Last month, 63 per cent of units sold at auction, compared to just 55 per cent of houses, according to Domain Group data.
The monthly result for houses is the lowest result since July …