Preliminary Weekend Auction Clearance Rates released by RP Data

RP data released the Preliminary Weekend Auction Clearance Rate across 1,389 auctions, at 73.4%.

This is within last weekend results of 73.8% for 1,139 auctions. Melbourne bounced back after posting a low 67% from last week, finishing at 72%. Sydney dipped at 76.1%, the first time it was unable to reach the 80% mark since June. This result is still favorable, as Sydney hosted 995 properties smashing the recorded property listing from the past two weeks by more than a hundred homes. The most affordable home sold under the hammer was in Sydney, at $141,000.

The year end results of properties sold under the hammer is showing the strength of the property sector despite predictions of it slowing down because of the holiday season.

Read more about this on the Real Estate Business website.