Beautiful Woman Wearing New Long Sleeved White Carpet That Holds House Symbol Dollar Bills Blue Trading Min

๐—–๐—ฎ๐—ฝ๐—ถ๐˜๐—ฎ๐—น ๐—–๐—ถ๐˜๐˜† ๐—–๐—น๐—ฒ๐—ฎ๐—ฟ๐—ฎ๐—ป๐—ฐ๐—ฒ ๐—ฅ๐—ฎ๐˜๐—ฒ๐˜€ ๐—ฅ๐—ฒ๐—ฎ๐—ฐ๐—ต ๐Ÿฒ๐Ÿฏ.๐Ÿฐ%

Auction clearance rates have increased in four of the five big auction markets over the past year, reflecting an increase in buyer competition during that time.

Between October 2022 and October 2023, clearance rates increased in Sydney, Melbourne, Brisbane and Adelaide, while decreasing in Canberra, according to Domain. (Auction volumes in Perth, Hobart and Darwin are too small to be significant.)

But the combined capitals' clearance rate of 63.4% in October was solid rather than spectacular. During 2015-17 and 2021, when property markets in many capitals were booming, clearance rates were regularly above 70%.

Domain said one thing holding down clearance rates right now is that vendors have become more confident and brought more properties to market.

โ€œHigher auction listings have weighed on clearance rates, as choice eases buyer competition and dissipates the sense of urgency that was evident earlier in the year,โ€ Domain said.

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Interest rate rises are here, but you donโ€™t have to fear with the right broker on your side.

The team at Sonam Capital are here to empower you through financial knowledge. Weโ€™ll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.

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