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ISCOVER
Staff Reporter
The cold weather and rain has not deterred potential home buyers from snapping up a bargain.
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According to the latest data from Australian Property Monitors, over 63 per cent of properties cleared in Sydney at the weekend.
The most expensive property sold in the capital city at the weekend was a four bedroom, $2.346 million house in Seaforth, while the most affordable property to go under the hammer was a three bedroom townhouse in South Penrith.
In Melbourne, the story was much the same, with 61.7 per cent of properties clearing at the weekend – distinctly more than last weekend when just 55.1 per cent of properties sold at auction.
The Real Estate Institute of Victoria chief executive Enzo Raimondo said demand for properties was likely to improve further over the coming weeks as Australia starts to head into spring.
“An increase in listings is expected in spring and those vendors looking to sell at auction will welcome the small improvement in demand,” he said.
“The REIV expects around 585 auctions next weekend.”
