Auction clearance rates in the Sydney and Melbourne markets continue to maintain the solid levels recorded over most of autumn so far with buyers still reasonably active in both markets.
Sellers however clearly remain wary of the market with auction numbers still well down despite the end of Aprils lengthy holiday period.
Sydney auctions are 27.4% down this year compared to the same period last year with Melbourne down by 36.1%.
The smaller capital city auction markets are also reporting comparatively low numbers of auction listings.
Solid clearance rates are clearly being supported by low auction offerings with a sustained recovery in seller confidence likely to be a lengthy process – and not assisted by the federal election campaign.
from Property UpdateProperty Update https://propertyupdate.com.au/this-weekends-auction-results-buyers-active-but-sellers-continue-to-desert-auction-markets/
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