The Sydney property market continues to defy the colder weather. The auction clearance rate for the NSW capital was 81.4% on the weekend, another annual high, as 240 properties went under the hammer (see table 1 below)
Across the country, the weighted average clearance rate for the seven capital cities minus Darwin was 65.4%, a slight drop from the 67.7% the previous week (see graph 1 below). That compares to a level of just 52.1% 12 months ago. The total number of properties auctioned on the weekend across the country rose to 1131 from 984.