Though the number of properties going to auction has edged higher over the spring months, supply is not keeping up with demand. Clearances rates are at a high for the year, and prices are heading into the stratosphere.
With auction clearance rates sitting above 80% in some cities, we look around the country to see what a $1 million price tag can buy on the Australian property market.
Sydney's auction clearance rate hit a 14-month high on the weekend, with 81% of properties put to auction selling, confirming the Harbour City's real estate market is streaking ahead of the rest of the country.