Sydney Home Auctions Surge as Rate-Cut Expectations Drive Buyers
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Sydney recorded its highest percentage of homes selling successfully at auction in more than two years as Australians increasingly expect interest rates will fall and property-price gains quicken, according to CoreLogic Inc.
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Published Feb 17, 2024 • 2 minute read
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(Bloomberg) — Sydney recorded its highest percentage of homes selling successfully at auction in more than two years as Australians increasingly expect interest rates will fall and property-price gains quicken, according to CoreLogic Inc.
The city, a market bellwether, reported 688 auctions in the past week for a preliminary clearance rate of 81.7%, the highest reading since mid-October 2021, CoreLogic said Sunday. The 2,044 auctions nationwide was the most this year and saw demand keep up with increased supply, according to the property consultancy.
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Bloomberg News
2024-02-17 21:24:49
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