‘Very early on in this recovery’: Demand outstripping supply

Three-quarters of homes listed for auction changed hands over the past week as buyer demand outstrips what is on offer, pushing prices past owners’ reserves.

The preliminary clearance rate nationally hit 75.9 per cent, the highest success rate since early November in 2021, on CoreLogic’s preliminary tally, reflecting a slight increase on the previous week’s preliminary figure. In Sydney, the clearance rate hit 78.5 per cent and in Melbourne it was 77.1 per cent, both advancing on the previous week.