Jun 24, 2026 – 12.30pmTreasurer Jim Chalmers walked back Housing Minister Clare O’Neil’s acknowledgement on Wednesday that Australia’s property market is undergoing a price correction as auction clearance rates plummet following Labor’s tax changes, insisting the falls did not fit the technical definition of a correction.House prices in Sydney have dropped more than 1 per cent in the past four weeks and 0.9 per cent over the same period in Melbourne as the proportion of successful auction sales sinks closer to 40 per cent, a record low.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Treasurer contradicts Housing minister on property market ‘correction’
Chalmers walked back O’Neil’s acknowledgement that there is a housing price correction under way as auction clearance rates plummet on Labor’s tax changes.
108 words~1 min read
