The spring property market is back in full swing with auctions returning strong results for homeowners across the country.
If there was uncertainty or nervousness after the last lockdown, the auction results have dispelled any fears.
According to industry researcher CoreLogic, clearance rates across major capital cities have averaged close to 70% over November with 84% in Canberra, 79.6% in Adelaide, and 72.3% in Brisbane. Sydney recorded 67.2% and Melbourne 66.3%.
These are excellent results especially when you consider the volume of properties that went to auction over November was some of the busiest since CoreLogic started collecting records in 2008.
Over the last week of November, more than 4,251 properties went under the hammer – the first time the volume of capital city auctions has surpassed 4000 homes and beating the previous record of 3990 properties auctioned on March 25 2018.
While these results are encouraging, as experienced agents in your area, we caution against putting too much store in the broad national figures. Australia consists of thousands of micro-markets that do not necessarily behave the same way as the national average.
To understand how the auction market is performing in our suburb and how the current market might affect your ambition to sell, don’t hesitate to contact us and we can discuss local buyer demand and price trends for properties of your style, size, and location.
We’ll be happy to appraise your property, too, and give you an estimate of a possible sales price should you wish to put it on the market in the foreseeable future.