Top government and opposition MPs say they want house prices to continue growing - just at a slower rate - after auction clearance rates plunged to their lowest level since April 2020.
Nearly 1900 homes went under the hammer in Australia's capital cities on Saturday, but just 47.4 per cent of them sold, according to property research firm Cotality.
The number of auctions was likely to reduce further over the coming weeks because of a seasonal downturn and weaker selling conditions, Cotality research director Tim Lawless said on Sunday.
Investor groups have warned the federal government's decision to wind back negative gearing and the capital gains tax concession will make housing a less appealing investment.
But the government still wants house prices to increase, senior minister Tanya Plibersek said on Monday.
