The national property market continues the rapid rebound. Notable points from the weekend’s auctions include:
1. National auction clearance was 74.6% compared to 75.19% last week. This time last year was 64.9%
2. The number of auctions increased in all mainland state capital cities which is highly unusual for this time of year.
3. All clearance rates are stronger than this time last year.
4. Melbourne recorded the biggest increase in auction volumes, bouncing back with a total of 1,131, increasing from 874 last week, but still below the 1,405 auctions held this time last year.
5. Canberra continues to lead the recovery with a 87.23% clearance rate.
6. Sydney, Adelaide and Melbourne all remain very strong, clocking in clearance rates around mid-70’s
