Consistently strong outcomes from residential property sales in June have demonstrated how strong demand and confidence are in the local property market.
This year started slowly with buyers and sellers very cautious, concerned about the overall economic environment. But this has changed.
In February this year 1369 auctions were reported, with 1001 sold, resulting in a clearance rate of 73 per cent.
This compares with the month of June, when 1669 auctions were reported, with 1426 sold, giving a clearance rate of 85 per cent.
Not only has demand increased, so has the number of homes auctioned.
This also compares favourably with the same four weekends in June 2007, when 2500 private sales were reported, compared with 2916 this year.
