Domain has released their preliminary analysis of auction clearance rates today. Nationally, 78.3% of the 1,585 listed cleared, with Sydney hitting 81.4% and Melbourne 78.3%. Volumes are down on last year somewhat, but clearance rates remain much higher.
Brisbane cleared 58% of 131 listings, Adelaide 77% of 105 listed, and Canberra 70% of 74 listed. So we continue to see momentum in the Sydney and Melbourne markets. No surprise this meshes with recent home price rises.
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