There are now more homes for sale in Australia than at any point in the past 3 years

Posted by Simon Dehne on March 14, 2016 in Latest News with No Comments

house_saleAustralian auction clearance rates continued to slide last week.

According to preliminary data released by CoreLogic RP Data, of the 1,063 capital city auction results received so far, 716 properties were sold, equating to a clearance rate of 66.4%.

The figure was below the 68.6% level of the prior corresponding week, and well below the 77.2% level seen in the same week a year earlier.

The number of auctions was well down on the previous week’s level of 2,304 thanks to public holidays in half of Australia’s states and territories on Monday, including the second-largest market in the country, Victoria.

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