Weekly Wrap – The Show is in Town, as the Spring Selling Season Starts.

The national auction clearance rate was 71.2% indicating the strongest start to a spring selling season since the start of the Covid-19 pandemic.

Adelaide’s auction clearance rate was 82.8% from 103 auctions, compared to the clearance rate of 67.2% same time last year.

The has been no shortage of prospective buyer turnouts at open inspections and auctions, with the growing appetite for good properties leading to a pick up in pre-auction sales.

The jobs numbers out of American on Friday illustrated positive signs for a “soft-landing”. The RBA meets tomorrow for Philip Lowe’s last meeting, the smart money says there is little chance of a rate rise tomorrow but the expectation is that there is at least one more hike before Christmas.

Have a great week.

– YG