Another hot weekend of auctions on the cards

Australia’s auction market boomed again last weekend, recording a final auction clearance rate of 78.3% (down from 80.2% the prior weekend) on higher volumes (2,940 versus 2708):

As shown above, clearance rates were strong coast-to-coast:

Australia’s final clearance rate is tracking close to its highest level since CoreLogic began tracking auctions in 2008:

According to CoreLogic:

Last week was the fourth busiest auction week so far this year…

There were 1,493 auctions held across Melbourne last week, the second busiest week for auctions all year…

There were 916 homes taken to auction in Sydney last week, up from 825 over the previous week…

This weekend a massive 3,101 homes are scheduled to go under the hammer, up from last week’s 2,940:

The high clearance rates continue to point to rising property prices:

The property market is ending the year on a strong note.

Unconventional Economist
Latest posts by Unconventional Economist (see all)

Comments are hidden for Membership Subscribers only.