NAB Flags Historic Housing Correction as Auctions Slide and Rent Costs Loom

NAB chief Andrew Irvine has delivered a stark warning: Australia's housing market is "in the midst of what is probably going to be a historic correction" with "more pain ahead for sellers, banks and for the Albanese government." The forecast lands as auction clearance rates in Sydney and Melbourne continue to soften despite the Reserve Bank holding rates at 4.35%. Sydney's preliminary clearance rate sat at just 54 per cent last week, while Melbourne's performance remained...