The week ending 10th October delivered a clearance rate of 86% from the 875 auctions reported for the period (based on REIV data). At the same time last year, there were just 41 auctions reported.
526 homes sold at auction last week and another 222 sold prior to auction, with 125 passed in. 26 properties were withdrawn from sale and 94 auctions were postponed.
It is great to see that the number of properties selling at auction is increasing and that the number of properties which are being withdrawn and postponed from auction are decreasing.
We can only hope that, in the weeks ahead, these figures continue in the same direction.
This week I wrote a blog regarding APRA’s (Australian Prudential Regulation Authority) introduction of tighter mortgage serviceability tests. Click here to read about their announcement.
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