The south-eastern capital cities were the beneficiaries of yet another strong weekend at Auction, the only real extraordinary mention goes to the ACT with a jump in clearance rates.
For about 6/8 months I have been watching the Canberra district through to Goulburn and watched prices progress upward, albeit slowly. It has gradually built to a point where properties are selling at auction like the bigger capitals north and south, with a clearance rate of 81%.
Melbourne (Victoria) was up at 75% still.
Across Sydney we had 675 properties originally scheduled for Auction with 482 reported to have taken place and 427 reported to have sold under the hammer with 32 withdrawn for whatever reason.
Clearance rate: 83%
Median price of property sold: $1,227,500
Property news so far this Monday seems to be focusing on more apartment development approvals, more land releases and affordability … not to mention the sterile Capital Gains Tax conversation.
Supply and demand.
Thomas Merriman.
Thomas Merriman 