Demand for real estate is showing no signs of letting up. Despite a record-breaking number of properties going to auction last week, CoreLogic's weighted average national clearance rate was still exceptionally strong, with preliminary figures coming in at 78.6 per cent.
Boiling weather spilled over into a hot auction market on the weekend
Auction clearance rates were well ahead of results for the same time last year, according to CoreLogic, indicating that despite volumes almost doubling from the previous week, buyer demand is still red hot.
Low rates, limited supply hold Sydney, Melbourne auction clearances aloft
Sydney and Melbourne auction clearance rates held above 70% over the weekend, as the prospect of continued low interest rates spurred buyers to compete for scarce listings.
Auction clearances holding strong heading into the holidays
Auction clearance rates remained strong last week, as volumes dipped in the lead up to the holiday season, and despite news the big four banks are beginning to increase interest rates.
Strong auction results show largest property markets still hot
Sydney and Melbourne property markets remain in overdrive, propelling the national auction clearance rate to 77.5% over the weekend, according to CoreLogic.