Following the usual Jan-Feb slowdown, last week there were 2,303 homes up for auction across Australia’s capital cities – the first time the number has broken above 2,000 since the start of the year.
In a report from CoreLogic, Melbourne was particularly busy, with 1,144 auctions held. Sydney saw 795 properties make it to auction.
There was more good news for the market – whilst still low compared to a year ago, clearance rates remained above 50% for the second week in a row. This week the clearance rate reached 54.1% nationally (53.1% in Melbourne and 58.6% in Sydney).
Looking across all capital cities combined, the median home price was $725,000 for units/apartments and $985,000 for houses.
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