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Surging clearance rates in Sydney and Melbourne while listings substantially drop in Queensland

Just how much has the recent series of holiday events, including Easter, school holidays and a series of public holidays contributed to our current real estate trends?

The Sydney and Melbourne property market have fired back up as auction clearance rates surge, while Queensland is experiencing a notable reduction in property listings. 

Although the current housing market growth phase is closing in on five years, the rate of growth actually accelerated over the first quarter of 2017 with combined capital city dwelling values 12.9% over the 12 months to March 2017 according to the CoreLogic Home Value Index.
In Sydney where there were 1053 scheduled auctions, CoreLogic recorded a preliminary clearance rate of 80.7 per cent, up from a final 74.5 per cent last week – the strongest result since April 9.

In Melbourne, where there were 1323 auctions scheduled, the preliminary clearance rate hit 79.2 per cent, up from a final 75 per cent last week.

While in Queensland competition could be about to step up as the number of properties listed for sale drops 12.3 per cent on the same time last year, according to CoreLogic’s latest housing market update. Source: CoreLogic