An extraordinary beginning.

Auction clearance rates have continued to soar past 80% in Sydney for the 6th consecutive week resulting in a record ‘best ever’ February. Figures from Australian Property Monitors (APM) recorded an 82.4 per cent clearance rate for Sydney this weekend.

According to Dr Andrew Wilson, senior economist for APM, the results are staggering.

“We’ve had a very solid start to the year, particularly in Sydney. The clearance rates over February were the highest ever recorded for a February and the third highest on record for Sydney, just behind September last year.

“This means we’ve had six consecutive clearance rates above 80 per cent to start the year, which is extraordinary and unprecedented,” Mr Wilson said.

Melbourne also performed strongly. However, auction numbers were down from last week reporting 70.1% auction clearance rate down almost 6 per cent from last week’s result.

Auction Clarence Rates:

Sydney: 82.4%
Melbourne: 70.1%
Brisbane: 59%
Adelaide: 71%

(*Source APM)

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