๐๐ฎ๐ฝ๐ถ๐๐ฎ๐น ๐๐ถ๐๐ ๐๐น๐ฒ๐ฎ๐ฟ๐ฎ๐ป๐ฐ๐ฒ ๐ฅ๐ฎ๐๐ฒ๐ ๐ฅ๐ฒ๐ฎ๐ฐ๐ต ๐ฒ๐ฏ.๐ฐ%
Auction clearance rates have increased in four of the five big auction markets over the past year, reflecting an increase in buyer competition during that time.
Between October 2022 and October 2023, clearance rates increased in Sydney, Melbourne, Brisbane and Adelaide, while decreasing in Canberra, according to Domain. (Auction volumes in Perth, Hobart and Darwin are too small to be significant.)
But the combined capitals' clearance rate of 63.4% in October was solid rather than spectacular. During 2015-17 and 2021, when property markets in many capitals were booming, clearance rates were regularly above 70%.
Domain said one thing holding down clearance rates right now is that vendors have become more confident and brought more properties to market.
โHigher auction listings have weighed on clearance rates, as choice eases buyer competition and dissipates the sense of urgency that was evident earlier in the year,โ Domain said.
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