Research finds record-breaking auction clearance rates

Font size :
The latest report from CoreLogic RP Data has shown Sydney’s auction clearance rate had a historic spike to 83.3% last week.
 
Meanwhile, Melbourne’s auction clearance rate has jumped by 10% from the previous week to 70.9%. The number of auctions scheduled in the area this week rose to 936 from last week’s 584.
 
For CoreLogic RP Data's auction specialist Robert Larocca, the upward trend in auction clearances reveals how buyers welcomed the rate cut imposed by the Reserve Bank of Australia (RBA) this month.
 
He added that this trend will also encourage more vendors to enlist their properties on the market to satisfy the strong demand.
 
Meanwhile, new figures this week also showed an all-time high in residential land prices in 2014 due to an undersupply of vacant land.
 
RBA governor Glenn Stevens has earlier lamented that undersupply is the main barrier to housing affordability in Australia. 
 

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 20, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords