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High Melbourne Clearance Rates Are a Sign of Recovery

By Matt Hurlston

Real estate in Melbourne and Sydney is proving to be particularly popular among buyers, with auction clearance rates in Australia’s two largest cities outpacing all other state and territory capitals.

This could be reassuring news for anyone planning to sell Carnegie property at auction, as clearance rates in the Victoria capital – as in Sydney – are currently sitting around the 70 per cent mark, says RP Data research director Tim Lawless.

He added that these clearance rates are nearly ten per cent higher than the national average, which is close to 60 per cent.

Mr Lawless explained: “Overall the housing market is in much better shape than it was a year ago where values were still falling and market sentiment was very low.”

But increasing property values and strong clearance rates suggest that confidence is returning to the market – and sellers who are thinking about making their next move might do well to pay attention.

If you are keen to sell real estate in Oakleigh or Carnegie, contact the team at Ray White Carnegie today. We can help you through the entire process of marketing your home, ensuring you attract the right buyers and achieve the best possible price.

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