Preliminary auction clearance rate lifted to a six-week high of 74 per cent across capital cities, amid signs of confidence in the market after interest rates were paused for the second month in a row.
Preliminary auction clearance rates rose to a six-week high of 74 per cent across capital cities despite more homes being offered for sale, amid signs confidence is returning to the market after the Reserve Bank left interest rates untouched for a second straight month.
Melbourne also posted a markedly higher success rate of 72.7 per cent, which is 3.2 percentage points stronger than a week ago. Auction volumes rose by 6.6 per cent to 2056 across the capital cities, which is the busiest auction week since before Easter. “It was a historic manor that had been converted into apartments and had high ceilings and tasteful renovation,” he said.“We had four active bidders and about 12 registered bidders, which shows that buyers are still willing to compete and pay a premium for good property.”
A five-bedroom, three-bathroom was sold for just over $9.5 million, which is $1 million above vendor’s expectations.
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