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1.Market Observations, 8.Was Sticky

2 Sept 2019 (AFR) – Cheap money fires up house auctions

(2 September 2019, AFR, p1, Ingrid Fuary-Wagner and John Kehoe)

Auction clearance rates on the way up (Domain, AFR)

Auction clearance rates on the way up (Domain, AFR)

‘Residential property sales in Sydney and Melbourne are rebounding to near boom-time peaks as buyers respond to record-low interest rates and cast aside concerns about a sluggish economy. Sydney recorded a preliminary auction clearance rate of 80 per cent on Saturday and in Melbourne 76 per cent of properties sold under the hammer, in line with sale results recorded during the five-year housing boom that topped out in mid-2017.’

Read more (and see more charts) at AFR.com (might need AFR login, or try: AFR.com/trial)

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