Melbourne auction market “dismal” as bidders disappear

Monday 13 August 2018

Over the past few month’s, it has become clear that Melbourne’s housing correction has begun, with Melbourne taking the mantle of the nation’s weakest housing market, with values declining by 1.8% over the July quarter:

Today, The AFR reports that Melbourne’s auction market has become “dismal” as the number of bidders has evaporated:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.