The national auction clearance was 72% from 2,275 auctions, illustrating resilience in the housing market given it was the busiest auction weekend since prior to Easter.
Adelaide lead the nation with an auction clearance rate of 88.2% from 127 auctions with a median sale price of $850,000, compared to the national median of $1,250,000.
New home sales are up by 35% in South Australia, although well and truly behind pre-pandemic sales. According to HIA (Housing Industry Association), 2024 is shaping up to produce the lowest number of new home starts for a decade.
It will be an exciting week ahead as the spring season is underway this week and with over 2,400 properties due to go under the hammer it will be a great test of the market heading into the busiest time of year.
Have a great week.
YG
Yianni Garbas 