Sydney housing market cools as auction rate falls

Sydney

SYDNEY'S surging housing market may be cooling with the proportion of home auctions that successfully found a buyer last week falling to the lowest level in 10 months.

Sydney's auction clearance rate, a gauge of housing demand in Australia's largest city, fell to 66.6 per cent for the week ending Oct 18. That was the lowest level since December 2014 and well below a peak of just over 90 per cent in April, according to property researcher CoreLogic Inc.