The biggest auction week in history came up with favorable results as 1,328 auctions were held over the weekend. Even with the staggering number of properties, clearance rates were impressive, ending at 72.3%.
Sydney bounced back after being unable to reach the 80% clearance mark last week, ending impressively at 83.2%, with 413 out of 472 properties sold under the hammer. Melbourne finished at 77%, with Brisbane and Adelaide finishing at 57% and 49% respectively.
This only goes to show that hunger for property investments have yet to be satisfied. More and more people are getting into property, taking advantage of high property values and low interest rates.
Read more on the Property Observer website.