More than half of homes advertised for auction nationally are being flipped to private sales before their listed auction date as an increasing number of sellers lose hope of striking a sale in a rapidly cooling market.In Sydney, 24.9 per cent of homes listed for auction converted to private treaty in February, when the median home value peaked, compared with 56.3 per cent in July, according to an analysis of listing data by Domain.Loading...
More sellers bail out of auction campaigns as market cools rapidly
More than half of homes advertised for auction are being flipped to private sales as the prospect of another rate hike scares buyers from the market.
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