Aussie house hunters were out in force across the country’s capital cities over the weekend, as strong demand continues to drive impressive clearance rates.
Auction data recorded by CoreLogic shows that Australia saw another solid weekend of activity and that, despite some states having a public holiday today, all the countries capitals returned a clearance rate above 80 per cent.
A total of 1,587 homes were taken to auction across Australia, 84.5 per cent of which have so far recorded a successful result.
Ray White New South Wales Chief Auctioneer Alex Pattaro believes that buyers are looking to beat the Easter scramble for properties – causing the market to boom.
“With more stock coming to market, sellers are also taking full advantage of the strong market conditions now, opting to sell before the Easter long weekend,” he says.
“We are in the best selling conditions that the state has seen in decades, and this is reflected through record prices and a number of bidders at auctions,” Alex explains.
“Sellers can gain great confidence to re-enter the market now after they obtain their dream price as more stock is coming on daily.”
Sydney saw the bulk of the action with 812 scheduled auctions, including the $2.705 million sale of 535 Bourke Street in Surry Hills that was conducted by agents Jeremy Brink and James Peach.
“It was a great auction with lots of energy,” Jeremy says.
“You can feel there is definite momentum in the market as buyers are feeling like they must buy now or they will pay more later given all the predictions of increased prices this year.”
In Melbourne, a lower 477 homes went under the hammer due to the Labour Day long weekend but a preliminary clearance rate of 80.9 per cent was still recorded.