Sydney auction falls short as ABC examines Australia's housing downturn

The report finds cautious buyers and falling sales, with a former NAB economist warning that further rate rises could trigger a recession.

Channel: ABC News (Australia) Story of November 1, 2026Trari Newsroom

Why this story? One of ABC News (Australia)'s most watched videos since yesterday, with 73,434 views.

Australian housing market continues downturn | ABC NEWS

A Sydney North Shore home held by the same owners for nearly half a century attracts a crowd, but only two active bidders. It sells for almost $400,000 below its price guide, providing the opening scene of ABC News Australia's report on a weakening property market.

"Buyers are cautious and they are concerned about where the market is going to go," Ray White agent Jessica Cao says.

According to ABC's report, Australia is heading for a seventh consecutive month of falling home prices. Capital-city auction clearance rates remain below half, while national home sales are down nearly a quarter compared with October last year. Buyer's agent Frank Russo says sellers are beginning to accept the changed conditions, while buyers are looking for discounts.

Reporter Gavin Coote connects that hesitation with expectations of another Reserve Bank interest-rate rise in November. The report presents the increase as anticipated, not decided.

Alan Oster, identified as NAB's former chief economist, warns that further tightening could carry consequences beyond housing. "My worst-case scenario would be two or three further rate rises, which I think would clearly cause you a recession," he says.

Government minister Chris Bowen acknowledges the pressure on households facing rising living costs, while stressing the Reserve Bank's independence.

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The numbers

ABC's housing report drew about 73,000 views since yesterday, the most among the channel's new uploads.

subscribers

2,640,000

▲ 10,000 in the last 7 days

total views

1,675,813,528

views per day

1,352,341

typical day: 1,147,237

the video

views

73,434

likes

198

days online

1

subscribers: this channel and similar channels

NewsNation

2,790,000

The Guardian

2,650,000

ABC News (Australia)

2,640,000

New York Post

2,620,000

euronews

2,590,000

ABC News In-depth

2,460,000

As of November 1, 2026 · Data source: Trari Social News, Trari Traffic Trends and Ranking Platform, Google YouTube

Subscriber, view, like and comment counts are YouTube's. Rates, usual days, rankings, comparisons and categories are Trari's own calculations.