Housing sector optimism leaps

by AB24 Feb 2014

Housing sector optimism has been boosted with a clearance rate of 82% nationwide over the weekend, according to The Australian Financial Review.

RP Data numbers showed a substantial lift in activity across the country. Capital city auction numbers have risen 70% and clearance rates have climbed.

Sydney is the leader with a record clearance rate of 85.2%, with second biggest market Melbourne also performing well with the clearance rate moving from 69.2% to 79%.

“The market appears to be continuing to rise,” Australian Property Monitors’ senior economist, Andrew Wilson, told the AFR.

“We’re seeing anecdotally reports of auction reserves being exceeded by 10, 15, 20%.”