Clear­ance rates re­shape tra­di­tional ideas of the mar­ket

Port Douglas & Mossman Gazette - - FRONT PAGE -

REAL es­tate auc­tion clear­ance rates in the big cities over the past two weeks have seen un­prece­dented lev­els of 84.6 per cent and 84.3 per cent - and RP Data ex­pects the strong per­for­mance to con­tinue right through spring. Tra­di­tion­ally, the Satur­day be­fore the Oc­to­ber long week­end hosts the largest num­ber of auc­tions. But RP Data se­nior re­search an­a­lyst Cameron Kusher be­lieves the mar­ket is strong enough to sup­port nu­mer­ous big days. ‘‘This is the first time we have seen clear­ances above 80 per cent for con­sec­u­tive weeks since we be­gan record­ing them in 2008. We ex­pect that to con­tinue through spring while we’ve got such low in­ter­est rates. As more list­ings come on, you might find that even big­ger Satur­days hap­pen in Oc­to­ber or later," said Mr Kusher. The Syd­ney mar­ket has out­per­formed cap­i­tal cities since the start of the year, main­tain­ing clear­ance rates over 70 per cent right through win­ter.

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