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Auction clearance rates 'will rise in February'

Australia's economic performance will rise in February, an expert has suggested, which could be good news for those looking to invest in Australian property.

The country's economic performance will improve in February and go some way to reducing the effect of the recent problems in Queensland, an expert has suggested.

Cameron Kusher, research analyst at RP Data, stated that this will be driven by improving clearance rates, which could be good news for those looking to invest in Australian property, news.com.au has reported.

"There are other indicators suggesting a better outlook," he explained.

While market conditions were flat in January, Mr Kusher predicted that these would be revised up and said that the month's figures were not a reason to be alarmed.

He pointed to the disruption caused by the natural disasters in the Queensland area as one of the reasons for the disruption to January's figures.

Earlier this month, Lifehacker's Angus Kidman highlighted the fact that buying property in Australia is becoming an increasingly popular investment strategy, with many praising the stability that it can offer.

Posted by Ravin Chatlani

- auction, clearance, prices, property, flood

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