Auction ramps up in Canberra

By Your Mortgage

While many people went on romantic dinners and getaways last weekend, investors in Canberra went on a buying spree instead, snapping up almost all the properties offered at auctions.

During the week ending 14 February, auction clearance rate at the national capital rose to 93.9%.

Buying activity continued to strengthen in both Melbourne and Sydney with auction clearance rates now sitting at solid 75.1% and 70.2% respectively. Adelaide is also showing plenty of momentum, with 35 out 52 properties sold during the same period or 67.3% clearance rate.

 Source: www.rpdata.com