Auctions surge to Feb record: CoreLogic

Property auctions hit record levels in Sydney and Melbourne last week, driving up the national tally as clearance rates improved as well.

General view of housing in Sydney — Property auctions hit record levels in Sydney and Melbourne last week. (AAP)

A rush to market in Sydney and Melbourne last week pushed housing auction numbers to a record high for February.

A total of 3,232 auctions were held around the capital cities in the week to February 26, driven by record numbers in Sydney and Melbourne, data from CoreLogic shows.

The national preliminary clearance rate - for auctions ending in a sale - also hit a February record of 78.6 per cent, up from 71.4 per cent for the same week a year earlier, with successful auctions up in all capitals except Canberra and Perth.

1 min read

Published 27 February 2017 4:54pm

Source: AAP

Share this with family and friends

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.