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Country:  Australia

13 July 2009

The Australia property market continued to show signs of improvement at the weekend, with marked improvement in property auction clearance rates and turnover.

The clearance rate for property in Sydney was 69%, up on the 48% recorded for the same period in 2008, with around £37m worth of properties sold, according to data supllied by Australian Property Monitors.

Property in Melbourne posted a clearance rate of 72%, which was 20% better than last year's result.

Brisbane's clearance rate of 45% was also significantly better than last year's 23%, while property in Adelaide posted a 66% clearance rate, up from 39% on the corresponding weekend in 2008.

Editor’s comment:
“The Australian property sector continues to show signs of improvement, assisted by greater activity among first-time buyers, many of who are taking advantage of the government Australia's decision to extend the first-home buyers grant, while interest rates remain at a record low.”


See Also:   Adelaide, Australia, Brisbane, Marc Da-Silva, Melbourne, Overseas property investment news, Property auction, Sydney


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