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The lack of bounce in the nation’s auction market amid the easing of restrictions has analysts worried that a V-shaped recovery won’t be forthcoming:
Domain’s senior economist Nicola Powell said while the clearance rate was holding up in the weaker economy it remains below the key 60 per cent benchmark.
“An auction clearance rate above 60 per cent is when prices start rising,” Dr Powell said.
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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.
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