With historical low rates and APRA tipped to lower restrictions on capital, it seems that more buyers are entering the market.
As far as auctions go, Melbourne has topped the nation with its preliminary clearance rate of 69.7 per cent across its 644 auctions, according to Corelogic’s data from the weekend just passed.
Sydney recorded a preliminary clearance rate of 67.1 per cent across 551 auctions, according to Corelogic. This is an increase from the previous week where 534 dwellings went to auction with 66.4 per cent clearing.
For Sydney, it was the highest clearance rate since Easter last year. This week’s final figures will be lower week-on-week, although it will likely hold above or close to 60 per cent.
One year ago, 641 auctions were held across Sydney with just over 50 per cent having a buyer.
Across the other major capitals, Perth saw lower volumes week-on-week, while all other capital cities saw an increase in auction rates.