Housing market slumps as rate decision looms | 7NEWS
The Australian housing market faces significant pressure as auction clearance rates drop to levels not seen since COVID lockdowns, with fewer than half of homes selling as potential buyers delay purchases ahead of the Reserve Bank’s interest rate decision. The Federal Government is responding to accusations of fuelling inflation by announcing potential spending cuts across all departments in the upcoming mid-year budget update. Prime Minister Anthony Albanese has travelled to Antigua for the Commonwealth Heads of Government Meeting with King Charles, where he will discuss trade and backpacker issues with British and Canadian leaders.
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