The Sydney residential property market has had its second busiest week of auctions so far this year, with 931 homes going under the hammer.
A recovery in Australia’s largest two markets is helping drive the national auction clearance rate to its highest level in more than two years.
Sydney recorded a bullish preliminary clearance rate of 84.7 per cent across 500 auctions – the highest preliminary clearance rate since February 2017.
A robust clearance rate of 70.4 per cent nationally on preliminary figures has boosted confidence that the spring market will maintain the recovery even as volu…
The worst appears to be over for the Sydney and Melbourne property markets after yet another successful weekend of auctions.
Auction volumes in Sydney are still well down on last year, but a solid clearance rate shows buyers and sellers have finally found the perfect meeting place.
The property market is cooling, but prices are still growing and at a much faster rate than wages and consumer inflation.