Is Queensland’s property market finally outpacing NSW?
Queensland has become the state to watch when it comes to property, following its strong response to the COVID crisis an...
The auctions market remained buoyant despite the long weekend, marking the busiest Easter on record last weekend, according to new data.
Property research group CoreLogic’s figures have revealed that there were 874 homes taken to auction across the combined capital cities, representing the busiest Easter on record.
Of the 760 results collected so far, the preliminary clearance rate sat at 79.4 per cent.
The previous week returned the highest final clearance rate on record of 83.1 per cent out of the 3,840 homes taken to auction across the combined capital cities.
Last week, there were 421 auctions held in Sydney, down from 1,410 over the previous week, with a preliminary clearance rate of 85.9 per cent.
This is down from the final clearance rate of 87.6 per cent the previous week out of a significantly larger volume of auctions.
In Melbourne, there were 216 homes taken to auction last week, with a preliminary clearance rate of 75.3 per cent.
In comparison, there were 1,929 homes taken to auction the previous week, with a final clearance rate of 81.0 per cent.
Across the smaller auction market, Canberra recorded the highest preliminary clearance rate with 93.8 per cent across a total of 50 auctions.
There were 100 auctions held in Brisbane, with the city recording a preliminary clearance rate of 61.4 per cent, while Adelaide registered a preliminary clearance rate of 73.5 per cent across 79 auctions.
Meanwhile, capital city home values surged 0.4 per cent over the week across the combined capitals, with both Sydney andrecording a 0.5 per cent rise in values.
Values recorded a 2.5 per cent monthly change across the combined five capitals, and rose by 5.8 per cent year-to-date, and 4.5 per cent over the last 12 months, according to the data.
Housing finance activity rose by 6.4 per cent nationally month-on-month, with Victoria recording the largest increase at 14.1 per cent.
South Australia was the only state to register a dip in mortgage market activity, declining by 6.6 per cent.