Buyers Getting Ready
Buyer behaviour shows they are ready to get into the market with figures from Loan Market showing a spike in pre-approval applications.
In the past month it has recorded 1117 pre-approvals compared with 650 at the same time last year.
Buyers are already returning to the auction market after the Easter break with a national clearance rate of 76% last weekend – the highest since early February 2024.
CoreLogic figures show Sydney had the highest clearance rate of 82%, followed by Adelaide 77%, Brisbane, 75% and Melbourne 71%. Clearance rates were lowest in Canberra, 62%.
Almost 2000 properties were taken to auction last weekend, although that is well below the 3500 in the weekend before Easter.
Across regional centres, Ryde in New South Wales was the best performer last week, with 94% of properties taken to auction selling. Sydney’s inner west was the only other region in Australia to achieve a clearance rate above 90% with 92% of properties selling under the hammer.
