Greg McKenna from Business Insider Australia confirms in this article on Business Insider that sellers will soon start to shy away from the auction process with falling clearance rates.
“As the Sydney property market gets set for its big litmus test this weekend with around 1450 auctions one veteran industry professional thinks sellers will be heading back toward private treaty. Douglas Driscoll, CEO of Starr Partners, told Business Insider that over the last couple of years in Sydney agents haven’t sold properties, people have bought them. But that is changing.”
Greg McKenna is and economist, trader and adviser. He runs his own consultancy and writes for Business Insider Australia. You can find him on Twitter @gregorymckenna or email:[email protected].
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