Weekend auction clearance rates finished at 68.7% for all capital cities, down from the same time last year at 72.5% but up from last week’s 66.9%. Forecasts show that the property market is set to bounce back as auction volumes are expected to rise late in October.
Sydney still leads all capital cities with a 75.8% increase despite dropping from last week’s 76.4%, followed by Melbourne, finishing at 67.2% from over 1,000 auctions in the area. Brisbane continues to rise steadily as it recorded a clearance rate of 54.2% from 47.4% last week.
Read more about this on the Property Observer website.