Sydney and Melbourne report very high auction clearance rates

What can possibly match this great combination- high auction listings and equally high auction clearance rates? Not many things! Nicola Trotman for the Property Observer reports that 1,541 auctions are slated for this week. Though a trifle lower than the figure for the last week, this number is just as phenomenal. Compare it with 1,300 auctions recorded over the same week last year in Australia and you will get the difference.

The auction clearance rate across the capital cities was as high as 69.2% last week, a jump of 3.6% from the figures of the preceding week. The clearance rate was only 53.5% for the same period last year.

Melbourne posted a very tidy clearance rate of 72.7% a week ago while Sydney’s figure of 75.3% was simply exhilarating. Both the top capital cities have done commendably in comparison to last year.

You can read the full report here.