The national preliminary auction clearance rate was 71.5% while Adelaide continued to lead the nation with preliminary auction clearance rate of 88.9% from 130 auctions, compared to the clearance rate of 66.7% same time last year.
The national clearance rate illustrates a balanced market between buyer and seller price expectations, while Adelaide is still a sellers market.
We’re seeing pent up demand from prospective buyers who weren’t able to find a property over the winter months, mainly due to the the low levels of properties available for sale.
Rents have continued to increase in many parts of the country, mainly due to strong growth in the unit market.
Have a great week.
– YG
Yianni Garbas 