Sydney hits 84.4% clearance rate in weekend auction

Just when you thought Sydney was already losing steam, it finishes up the week with a 84.4% clearance rate for the February 8 weekend. The results are impressive despite a drop in the number of properties sold under the hammer.

The Australian Property Monitors report 205 auctions in Sydney over the weekend with a median house price of $865,250. Economists predict that the residential sector will experience a drop in sales compared to the previous year, but Sydney’s weekend auction results show that it has no plans of slowing down anytime soon.

Read more about this on the Property Observer website.