The auction streak ends.
Sydney fails to reach the 80% clearance rate for the first time in two months, according to Australia Property Monitors. Not a cause for concern though, as Sydney finished just a hairline under 80% at 79.9% of 630 properties for last weekend’s auction.
Auction results still reached a staggering high of 81.1% clearance rate overall, ahead of the 64% clearance rate recorded around the same time last year. Melbourne finished at 72.4%, with Victoria barely hitting the 70% mark. The overall clearance rate for capital cities finished at 71.6% and this is set to continue, as 1300 homes will be sold under the hammer next week in Melbourne alone, showing clear signs that demand for property is not waning.
Read more about this on the Real Estate Business website.