By Robert Carry
Tasmania's weekly real estate auction clearance rate has more than halved from 61.5% to 28.6%, a new report has found.
According to RP Data figures released today, just four of the 14 properties put up for public auction in Tasmania in the week to 25 October secured a buyer.
Perth also suffered a considerable drop, moving from 50% to 30.8% over the same period. However, this is a relatively small decline from the 36.4% clearance rate seen in Perth the week previous.
Sydney, which showed a moderate increase in clearance rates from 72.6% to 73.1%, was the only other capital to record a growth rate in the week to 18 October.
Canberra rallied to 87.8% after suffering the most significant decline in the week to 18 October. Brisbane's rate dropped moderately from 44.6% to 43.1%, The Northern Territory settled at 50% while Melbourne's clearance rate went from 80.9% to 81.2%. Adelaide' clearance rate also enjoyed a moderate increase, rising from 66.7% to 71.2%.
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