📊 Yesterday's Key Developments
Sydney Auction Market Shows Cautious Bidding Amidst Strong Sales
Sydney experienced a 'Super Saturday' of auctions with significant sales, some exceeding reserves by substantial amounts. A notable trend was incremental bidding, with buyers showing price sensitivity by making small bids, attributed to concerns about borrowing costs and the cost of living. One auctioneer noted the market's complexity, highlighting that cautious, incremental bidding secured several wins.
Source: www.realestate.com.au
Victoria Braces for Increased Underquoting as Market Heats Up
Victoria is predicted to face a surge in underquoting, potentially the worst since 2021, due to favorable conditions for misleading practices. Consumer Affairs Minister Nick Staikos has committed to deploying the underquoting task force. Experts anticipate that potential interest rate cuts could exacerbate the issue, leading to more aggressive 'step quoting' tactics. A real estate agent who has been fighting against underquoting for decades said that three interest rate cuts would “lead to agents underquoting more freely”.
Source: www.realestate.com.au
Queenslanders Turn to Water as Housing Affordability Dries Up
Faced with rising property costs, an increasing number of Queenslanders are exploring alternative housing options, such as living on boats. Marine industry experts have observed a significant rise in demand for live-aboard vessels as home and rental prices climb. One broker noted that inquiries for live-aboard boats have increased tenfold compared to pre-COVID levels. The 2021 census indicated that almost 30,000 people in Australia were already living in boats or other types of watercraft.
Source: www.news.com.au
Sydney Auctions See Cautious Bidding Despite Strong Sales
Sydney's auction market experienced a robust Saturday with numerous properties selling for well above their reserve prices, in one instance exceeding expectations by $1.36 million. Despite strong sales, a trend of conservative bidding was observed, with many buyers making small incremental increases, some as low as $500. This cautious approach is attributed to ongoing concerns about borrowing costs and the overall cost of living, creating what one auctioneer described as a complex market environment.
Source: www.news.com.au
Clive Palmer Ordered to Pay $13M After Losing Foreign Investor Claim
Mining magnate Clive Palmer has been instructed to pay over $13 million after an international tribunal rejected his claim that he was a foreign investor. The case stemmed from a 2020 Western Australian government law that hindered Palmer's pursuit of $30 billion in damages against the state, relating to the government's initial denial in 2012 of his Balmoral South iron ore project in the Pilbara region. Palmer argued the law was discriminatory and prevented him from selling the project to a Chinese company, leading to financial losses.
Source: www.abc.net.au
Published: Sunday 28 September 2025 | Fresh Articles: 9 | Sections: 5 | RunID: 2025-09-28T07:23:38+10:00
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