Business
Sydney’s auction clearance rate hits highest point in 24 years – Domain News
With more than 20 registered bidders at some auctions, reserves were smashed by hundreds of thousands of dollars in a huge weekend of sales that set a record benchmark….
Sydneys auction market has had its biggest result in 24 years, as the preliminary clearance rate reached 88.7 per cent at the weekend.
The huge result was recorded after 408 auctions were listed and 293 results reported on Saturday. Eighteen properties were withdrawn from auction and were counted as not sold as part of the clearance rate.
Domain senior research analyst Nicola Powell said it was the highest clearance result since June 14, 1997, when the finalised clearance rate was 89 per cent after…
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