Real estate market ‘losing momentum’, data shows

Here’s some news in the real estate market that may give first-home buyers a glimmer of hope.

New data shows the majority of Sydney properties slated to go under the hammer last weekend were sold before auction, well above last year’s average of 44 per cent.

It’s a sign of a lack of confidence among sellers and is seen as paving the way for a broader cooling in the housing market, economists say.