What housing crash?

Posted by Simon Dehne on March 7, 2016 in Latest News with No Comments

house-jenga-Auction clearance rates for the weekend suggest the property market doesn’t care much about reputations of those that might disparage it.

According to CoreLogic RP Data, clearance rates have returned to normal levels, with Victoria seeing a rate of 71% and New South Wales 69% from 1,218 and 684 scheduled auctions respectively.

Domain senior economist Andrew Wilson says Melbourne was ‘settling into a mid-70% market’ that was very even. “It’s also very even between most of the Melbourne regions – the inner south stood out last week but not by much.”

That’s different to Sydney, with Domain reporting a relatively low number of auctions for this time of year. 2,412 auctions have been listed over the past 6 weekends – 24% lower than the 3,001 over the same period last year.

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