Business
Three quarters of homes sell at auction in Sydney, Melbourne – The Australian Financial Review
While clearance rates in the two largest cities are booming, they indicate markets playing catch-up – and significant uncertainty remains.
Last week the Victorian capital posted a preliminary clearance rate of 75.8 per cent, above the previous week’s 72.6 per cent which was subsequently lowered to 63.5 per cent.
The top end is strong. In inner-southern Melbourne’s Albert Park, a six-bedroom house set across three levels sold on Monday night to a couple who saw it only that morning at the bottom of its $11 million to $11.5 million price range.
“They saw it at 11.15 am,” said Greg Hocking Holdsworth agent Simon Gowling. “We met back…
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