Positive sales at an auction of Australian property signal a buoyant year, one source has said.
Another successful Australian property auction bodes well for sales in the coming year, one source has said.
The Australian reported that clearance went up by 66 per cent at an auction held over the weekend and suggested that the positive sales pattern will continue throughout 2010.
Yvonne Chan, head of research at Australian Property Monitors, said that one auction house sold twice as many Australian homes on Saturday (February 6th) than on the same day the year before.
"The market now is a major improvement on what we had a year ago," she said. "And with the improved unemployment rate and no change to interest rates last week, the auction clearance rate should stay strong."
Meanwhile, the Australian Bureau of Statistics recently unveiled figures indicating that building approvals for Australian property rose 2.2 per cent to 14,869 units from an upwardly revised 14,555 units in November.
Posted by Steve Douglas
Another successful Australian property auction bodes well for sales in the coming year, one source has said.
The Australian reported that clearance went up by 66 per cent at an auction held over the weekend and suggested that the positive sales pattern will continue throughout 2010.
Yvonne Chan, head of research at Australian Property Monitors, said that one auction house sold twice as many Australian homes on Saturday (February 6th) than on the same day the year before.
"The market now is a major improvement on what we had a year ago," she said. "And with the improved unemployment rate and no change to interest rates last week, the auction clearance rate should stay strong."
Meanwhile, the Australian Bureau of Statistics recently unveiled figures indicating that building approvals for Australian property rose 2.2 per cent to 14,869 units from an upwardly revised 14,555 units in November.
Posted by Steve Douglas
