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Home buyers keen to take advantage of falling interest rates took to the market on the weekend producing solid auction results in Sydney and Melbourne.
According to Australian Property Monitors, 63.9 per cent of the 301 homes listed for auction in Sydney sold on the weekend – up by almost 10 per cent on the same weekend in 2008 and consistent with last weekend’s results.
Melbourne also recorded a strong clearance rate of 73.9 per cent. This trumped the solid 70.1 per cent clearance rate recorded on the same weekend last year. It was also almost 10 per cent higher than last weekend’s clearance rate.
In Brisbane the market was slower with just 48.5 per cent of properties sold while in Adelaide 62.5 per cent of properties achieved a sale, although just 15 properties were listed for auction.
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