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1.Market Observations, 8.Was Sticky

20 Feb 2017 (AFR) – Weekend property auction clearances soar in Sydney and Melbourne

(20 February 2017, AFR, p6, by Matthew Cranston)

‘Auction clearance rates soared in Sydney and Melbourne over the weekend, although some property experts questioned whether higher clearance rates would translate into another year of strong price growth. Domain and Corelogic both showed similarly high auction clearance rates for the weekend, with more than 83 per cent of the 675 homes listed for sale in Sydney selling at auction, equating to $460.9 million worth of real estate changing hands. The clearance rate was up on the previous week’s 80.2 per cent and the 73 per cent on the same weekend last year.’

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