Jim Chalmers says fewer homes selling at auction may be a ‘good thing’ for first-time buyers

Auction success hit a new low for the year on the last Saturday in May, with just 54.5% of homes sold Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast The treasurer, Jim Chalmers, has suggested falling auction clearance rates may be a “good thing” for first home buyers if it means they aren’t competing against as many property investors. After data was released showing home prices in Australia’s capital cities had begun to fall and buyers were abandoning auctions, Chalmers on Monday said Labor’s proposed property tax reforms weren’t the only thing slowing the housing market. Continue reading...