{"id":23869,"date":"2020-02-25T12:23:40","date_gmt":"2020-02-24T23:23:40","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=23869"},"modified":"2020-02-25T12:23:45","modified_gmt":"2020-02-24T23:23:45","slug":"sydney-and-melbourne-buyers-are-gobbling-up-properties-as-quickly-as-they-can-hit-the-market","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/sydney-and-melbourne-buyers-are-gobbling-up-properties-as-quickly-as-they-can-hit-the-market\/","title":{"rendered":"Sydney and Melbourne buyers are gobbling up properties as quickly as they can hit the market"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO: Property buyers<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Preliminary auction clearance rates in both Sydney and Melbourne are hovering around 80% after a bumper weekend saw almost 2,000 properties go under the hammer between the two cities.<\/strong><\/li><li><strong>While the final clearance rate figures will come in lower than that, there appears to be far more demand in the property market than 12 months ago.<\/strong><\/li><li><strong>If the&nbsp;<a href=\"https:\/\/www.businessinsider.com.au\/australian-property-price-recovery-2020-forecasts-homebuyers-2020-2\" target=\"_blank\" rel=\"noreferrer noopener\">current demand continues<\/a>&nbsp;unabated, prices look set to break 2017 highs.<\/strong><\/li><li><strong><a>Visit Business Insider Australia\u2019s homepage for more stories.<\/a><\/strong><\/li><\/ul>\n\n\n\n<p class=\"has-drop-cap wp-block-paragraph\">Australia&#8217;s real estate markets continue to heat up.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Almost four out of five properties are selling at auction in Sydney or Melbourne at the moment, as homebuyer appetite&nbsp;<a href=\"https:\/\/www.businessinsider.com.au\/australian-property-price-recovery-2020-forecasts-homebuyers-2020-2\" target=\"_blank\" rel=\"noreferrer noopener\">continues unabated.<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Over the weekend, 82% of Sydney and 79% of Melbourne homes sold at auction, according to&nbsp;<a href=\"https:\/\/www.domain.com.au\/auction-results\/sydney\/\" target=\"_blank\" rel=\"noreferrer noopener\">Domain&#8217;s preliminary auction clearance rates.<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While the figures are bound to firm up a little lower when they are finalised on Thursday, there&#8217;s no doubt the market has made a dramatic turnaround. Twelve months ago, a little over half of Melbourne homes sold at auction, while just 61% of Sydney&#8217;s found a buyer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Significantly, this weekend saw the highest number of homes for sale since late last year. More than 800 properties in Sydney and more than 1,100 in Melbourne went under the hammer. The figures seem to support\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.businessinsider.com.au\/sydney-and-melbourne-house-prices-are-set-to-bounce-despite-low-sales-numbers-these-two-charts-show-why-2019-8\" target=\"_blank\">Domain&#8217;s analysis<\/a>\u00a0that suggests increasing stock doesn&#8217;t typically dampen auction appetite. In fact, this weekend&#8217;s clearance rates are amongst the highest this year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">READ MORE VIA <a href=\"https:\/\/au.finance.yahoo.com\/news\/sydney-melbourne-buyers-gobbling-properties-011717676.html\">YAHOO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Property buyers Preliminary auction clearance rates in both Sydney<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/sydney-and-melbourne-buyers-are-gobbling-up-properties-as-quickly-as-they-can-hit-the-market\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":10804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478100512,478103894,478108856,478099256,478103996,478100001,478101979,478103375,478105608,478102289],"class_list":["entry","author-data123nz","post-23869","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-melbourne-and-sydney","tag-melbourne-buyers","tag-melbourne-property-market","tag-melbourne-real-estate","tag-property-auctions","tag-property-buyers","tag-sydney-auctions","tag-sydney-buyers","tag-sydney-homes","tag-sydney-property-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sydney and Melbourne buyers are gobbling up properties as 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