The preliminary clearance rate for the combined capital cities was 68.5% this week, compared to last week’s result of 67.8%.
Although a little softer than the 70.4% recorded this time last year, the results are “on trend” for the year, according to research house RP Data.
Weekly clearance rate, combined capital cities
Sydney’s clearance rate was 75.5% this week, compared to 71.9% last week, and 79.5% this time last year.
Capital city auction statistics (preliminary)
Melbourne’s clearance rate was 68% this week compared with 70% last week, and 68.6% this time last year.
RP Data’s housing market specialist Robert Larocca says a record number of auctions scheduled for Melbourne next week – around 1800 – will test that market.
The “next big thing” in property
With Sydney and Melbourne looking close to fair value, property expert Margaret Lomas is betting on Australia’s new and emerging markets as the next hot places to invest in during 2015. Lomas says the changing needs of the population, like choosing a location for its ‘lifestyle benefits’ over closeness to work, means regions further away from city centres will begin to rise in popularity.
“Add to this the fact that Generation Y parents look for amenities to suit their children’s own many lifestyle pursuits, and we can see a pattern emerging as to the kinds of areas that will attract the most buyers,” she says.
She thinks north-eastern Brisbane locations fit the emerging market prototype, and tips areas like Moreton Bay Shire, Strathpine, Clontarf, Redcliffe and Deception Bay to stick with for the long term.
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