Sydney and Melbourne posts impressive Auction Clearance Rates

2, 431 capital city properties were taken to auction last week, up from the previous week of 2,293 properties. There was also a steady increase in clearance rates, as the capital cities posted a 71.2% clearance from the previous week’s 70.8%. Property interest is not waning, and Melbourne and Sydney posted impressive results. Sydney finished the week with a 77.9% clearance rate with Melbourne close behind at 71.7%.

At the same time last year, Sydney finished at a clearance rate of 68.6%. Melbourne’s performance for last year was also lower at 67%. Despite low property volumes, capital cities are still experiencing high clearance rates, highlighting the strength of the property market.

Read more about this on the Property Observer website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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