Low rates, limited supply hold Sydney, Melbourne auction clearances aloft
Sydney and Melbourne auction clearance rates held above 70% over the weekend, as the prospect of continued low interest rates spurred buyers to compete for scarce listings.
Auction clearances holding strong heading into the holidays
Auction clearance rates remained strong last week, as volumes dipped in the lead up to the holiday season, and despite news the big four banks are beginning to increase interest rates.
Though the number of properties going to auction has edged higher over the spring months, supply is not keeping up with demand. Clearances rates are at a high for the year, and prices are heading into the stratosphere.