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The national clearance rate for auctions hit 75.4 per cent on preliminary numbers with buyers buoyed by both the possibility interest rates have peaked and tax cuts slated for later in the year.
The auction year is off to a strong start with almost three in four homes listed selling at the weekend, but experts say a wave of stock could temper the pace.
Sydney’s weaker clearance rate coincided with a sharp slowdown in home values which gathered pace in the past four weeks.
Former soccer player and now construction boss Ivan Kelic’s ultra-luxe compound has hit Melbourne’s Moonee Ponds property market.
BresicWhitney CEO Thomas McGlynn says with ‘fewer runaway results’ happening, it is unclear whether the market will end the year favouring buyers or sellers.