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Property News | Moderating Markets | Uocmas News
29th September 2015

This week the  reports on moderating property markets. Softening auction clearance rates and a crackdown on investor lending has led to a moderation of strength and not a downturn as recently thought.

On Saturday, auction clearance rates fell to below 70 percent for the first time this year whilst Melbourne saw a rate of 73.3 percent, slightly down on the previous Saturday.

National Australia Bank noted weaker growth in local approvals for owner-occupiers, suggesting a wider slowdown in mortgage demand.

Despite these reasons, the property market still remains strong nationally and suggestions of the bubble bursting are not accurate according to experts. UBS economist Scott Haslem stated that “residential approvals remain near a record high at 232,000 and renovations recently rebounded.”

For the full report by Markets and Economy Reporter Mark Mulligan, visit .