Brisbane beats Sydney, Melbourne clearance rates for first time
A FRESH buzz has emerged around Brisbane after its auction clearance rate punched above the national average to beat both Sydney and Melbourne for the first time on record.
Preliminary results from CoreLogic show Brisbane pulled a whopping 60 per cent clearance rate in the past week, beating Sydney’s 56.5 per cent and Melbourne’s 55.7 per cent — both of which were generally considered havens for auction activity in Australia.
The results come as auction volumes continue to build leading into the peak Spring selling season which begins next weekend.
CoreLogic national auction market commentator Kevin Brogan told The Courier-Mail it was the first time the city had gone above Sydney and Melbourne at the same time.
“This is probably the only occasion where Brisbane has had a clearance rate higher than both Sydney and Melbourne so I think congratulations are in order,” he said.
Source: news.com.au