Sydney tipped to break August clearance record

by AB26 Aug 2013

Sydney looks to break new records in August auction clearance rates as buyers continue to take advantage of low interest rates and pent-up demand, according to Australian Property Monitors and RP Data.

Sydney’s clearance rate dropped to 79% this weekend, down from 80% last weekend – the first dip in six weeks – but the city is still on track to break the previous monthly clearance record of 77% set back in 2002.

Melbourne’s clearance rates also improved, rising from 73% last week to 78 per cent from 73% this week and around 61% this time last year.

The top price in Sydney over the weekend was $1.9m for a five-bedroom home in Willoughby, while the highest price in Melbourne came in at $1.7m for a four-bedroom house in Bentleigh.

The clearance rate across all capital cities was about 72% - a minor increase over the previous week - according to RP Data.


  • by Regional Broker 26/08/2013 10:52:37 AM

    ??? Really or is just some and mirrors , NOT happening n regional areas .