Auctions not losing steam, still surging ahead

After breaking auction records for the past several months, properties sold under the hammer continue to surge forward as it experienced yet again another milestone, reaching an 83.7% clearance rate over the last weekend, the highest for the previous month.

Over the course of 18 weeks, 16 have had clearance rates above 80% showing intense demand for property. Sydney is still leading the charge, despite having one of the highest weekend auction numbers, with 802 properties auctioned. Experts are expecting Sydney to break the 1,000 property mark by the end of November.

Read more about this on the Real Estate Business website.