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ISCOVER
Staff Reporter
The Spring selling season may have been given an early kick start, with auction clearance rates improving in Sydney and Melbourne.
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In Sydney, 60.5 per cent of properties cleared at the weekend, well above the capital city's long term average.
The most expensive property sold in the capital city at the weekend was a five bedroom $2.37 million house in Strathfield, while the most affordable property to go under the hammer was a two bedroom, $227,000 unit in Wiley Park.
The story was much the same in Melbourne, with 57 per cent of properties clearing over the weekend, according to the Real Estate Institute of Victoria.
REIV chief executive officer Enzo Raimondo said interest rate cuts – if they come – could help all of the capital cities achieve higher clearance rates in the weeks and months ahead.
“Those looking to sell their home over spring will be hoping that speculation of an interest rate cut last week becomes a reality as it would boost buyer confidence just at the right time,” he said.
