Australian auction clearance rates remain ‘very strong’ compared to six months ago

REA Group Economist Anne Flaherty says Australia is seeing “very strong” clearance rates as right across the country the rates are remaining above what they were six months ago. “We have continued to see clearance rates hold really quite strongly particularly in Melbourne, so a clearance rate of 69 per cent there is very strong,” she said. “Across the country, actually, the clearance rates are still remaining above what we were seeing six months ago, especially towards the end of last year. “Expectations around interest rates having peaked are really one of the key drivers here, people are feeling much more confident about how much they are going to be repaying in their mortgages over the coming year.” National total auctions are sitting at 2,093 with clearance rates hitting 63.3 per cent in Sydney. South Australia’s clearance rates are the highest at 77.3 per cent with a total of 66 auctions in the state. In partnership with REA.