Auction clearance rates in the biggest markets of Sydney and Melbourne are tracking steady amid a build-up in listings heading into the spring selling season, which experts tip could put further pressure on the housing recovery.
Nationally, 71.4 per cent of homes listed for auction found new owners over the last week, on preliminary data from CoreLogic. Sydney’s clearance rate was 74.9 per cent and Melbourne’s 68.7 per cent, more or less in line with the previous week.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
