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.