Auction clearance rates are starting to taper off after a strong performance at the start of the year. Preliminary results for last week’s auctions show that the clearance rate was at 66.3%, higher than the previous week of 64.6%. At the same time last year, the clearance rate was at 67.7% with 1,749 properties offered at auctions.
Sydney had 817 auctions with a clearance rate of 75.5%, higher than the previous week at 71.3% with just 361 properties auctioned because of the ANZAC weekend. Sydney has been leading all capital cities in auction clearance rates this year.
Read more about this on the Property Observer website.