Property continues to rise

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Auction activity continued at a fast clip the past week, with 2,289 auctions at capital cities across the country. That put the weighted average clearance rate at 72.4% for the nation, compared to 70.2% the previous week, which was softer due to it being a long weekend in Victoria. This time last year, the weighted average auction clearance rate was 64.4%

Sydney recorded a clearance rate in excess of 80% for the third time this year, with 82.7% for the past week. Melbourne’s auction clearance rate was 67.9%, up slightly from the 67.3% the previous week but the number of auctions rose significantly to 1,092 from 329.

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