Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Auction clearance rates predicted to increase

Clearance rates for Australian property are predicted to increase.

Figures from RP Data have predicted a bumper upcoming weekend for home sales at auction across Australia's major cities.

Property Observer reports combined capital clearance rates are on an upward trend at present and are significantly higher now than they were at this time in 2011 - up from 44.8 to 56.9 per cent.

Predictions from the real estate valuation provider for the coming weekend's sales are for further gains, with Melbourne set to witness more than 700 auctions in the coming weekend, while Sydney will see more than 550.

Across the nation, RP Data has forecast more than 1,500 capital city auctions will be held this weekend, with Queensland, Victoria and New South Wales all delivering higher-than-expected activity.

Australian Financial Review recently reported a significant upturn in the Sydney market, with auction houses in the city witnessing a 67.3 per cent clearance rate for properties last weekend - a figure much higher than the seasonal average.

Posted by Craig Francis

- auction, prices, sales, Sydney, capitals

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now