A Melbourne semi that sold for $2 million over its $3.1 million guide was one of 1673 properties auctioned last week, helping push the clearance rate to 74.4 per cent.
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Brisbane had a 56.5 per cent preliminary clearance rate across 117 auctions, while Adelaide recorded the strongest of all capital cities at 80.8 per cent across 77 auctions. Canberra, meanwhile, saw a 77.2 per cent preliminary clearance rate across 83 auctions. “I couldn’t keep up with it, super fast-paced, $100,000 bids. It was phenomenal,” Mr Gilbert said. He said the vendors were in a state of shock after the hammer fell. “It’s totally life-changing for them.”‘Buyers are absolutely starving’
He said the clearance rates were being driven by two main factors: renters converting to first home buyers along with broader population pressure.
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