Growing confidence that the housing market is getting close to the bottom of the cycle has fuelled strong auction results around the country as volumes rose to their highest levels this year.
Growing confidence that the housing market is getting close to the bottom of the cycle has fuelled strong auction results around the country as volumes rose to their highest levels this year, preliminary data from CoreLogic shows.
Selling agent Nader Hotait of Ray White Eastern Beaches said the buyers were from Indonesia and bought the house over the phone during the weekend auction. A total of 2685 homes nationwide were taken to auction over the weekend, up 16.6 per cent from the previous week, making it the busiest auction week since mid-December.Despite the sharp seasonal increase, auction volumes are still substantially lower than the same period a year ago when 4035 homes were taken to auction across the country.
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