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Market shows signs of improvement

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Miserable weather did not deter buyers from purchasing property at the weekend, with auction clearance rates climbing to almost 60 per cent.

According to Australian Property Monitors, 55.9 per cent of properties sold under the hammer in Sydney – up from 52 per cent achieved the week prior.

The most expensive property sold in the capital city was a three bedroom house in Riverview, which went under the hammer for $3.3 million.

The most affordable property to sell was a $286,000 two bedroom house in Merrylands.

In Melbourne, the story was much the same, with 58.9 per cent of properties clearing at the weekend.

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