Auction market records are on the verge of being broken, with the usually quieter winter selling season nowhere in sight.
According to Australian Property Monitors (APM) senior economist Dr Andrew Wilson, the Sydney home auction market remains on track to break the all-time June record for listings and sales, following another robust result at the weekend.
“The Sydney market returned an auction clearance rate of 75.1 per cent, down slightly from last weekend’s result of 75.6 per cent,” Dr Wilson said.
“High listing numbers continue to be a characteristic of Sydney’s auction markets, with 578 properties going under the hammer at the weekend, which was 37.3 per cent higher than the 424 auctioned over the same weekend last year,” he added.
Dr Wilson said record levels are likely to continue for the remainder of the quieter winter months as low interest rates, rising population and a “thriving” local economy continue to fuel the market.
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Source: REB
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