Homeowners shift to private sales as property market cools in Australia
Home sellers are increasingly opting for private sales instead of auctions in a challenging buyer's market. This shift comes as they seek more control over the selling process amid rising nervousness about property values. More homeowners are selling their properties this January compared to last year, with a 10.3 percent increase in listings nationwide. Sydney saw a 19 percent rise, while Melbourne's listings increased by 15.9 percent. The trend towards private sales allows sellers to keep offers confidential, but it may reduce competitive pressure. Many sellers are hoping for an interest rate cut to boost demand in the market.