Auction volumes are up, with 2,289 auctions across the capital cities compared to just 1,520 from the previous week. The combined clearance rate was at a respectable 72.4%, up from the previous week’s 70.2%.
The property buyers are back, with Sydney and Melbourne leading the pack. In 613 auctions in Sydney, the clearance rate was at 82.7%, the second strongest result for this year. Melbourne had 885 auctions for last week, with a clearance rate of 67.9%. Auction volumes are set to increase in Sydney for the coming weeks.
Read more about this on the RP Data website.