Iconic Sydney home passes in as clearance rate drops to 48 per cent
AMP chief economist says recovery may not come until second half of 2027
The iconic 'smallest home on the Bay Run' in Drummoyne passed in on a bid of $3.71 million at auction on Saturday, failing to meet its $3.9 million reserve. The outcome coincided with a drop in Sydney's preliminary auction clearance rate to 48 per cent, down from 69 per cent at the same time last year, according to Domain data.