Auction Activity Heats Up Around Australia

It might not be Spring anymore, however,property markets are showing no signs of slowing down.

Last week, Australia’s major capital citiesall recorded their busiest auction weeks since 2008. In total, 4,261 homes wentunder the hammer, as vendors rush to try and get their properties sold ahead ofthe Christmas break.

Despite the surge in new listings andproperties going to auction, the clearance rate in both Sydney and Melbournehas held up well.

Last weekend, Sydney saw a clearance rateof 71.4%, while Melbourne came in at 68.4% according to the latest data fromCoreLogic.

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