“No Choice: But Forced To Buy Units Ahead Of Rate Cuts!”

Last week I discussed the weaker auction and clearance results, centred on the impact of the King’s Birthday long weekend, which cut the number of auctions held by around one-third. In the end, Sydney’s final auction clearance rate subsequently fell to 58.1%, the lowest result this year. But of course, this week, it’s a different story, with Sydney’s auction market rebounded strongly this weekend, recording a preliminary clearance rate of 70.5%, representing the first 70%-plus result in three weeks and only the second time in thirteen weeks that Sydney has recorded a preliminary auction clearance rate at 70% or higher. […]