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Property auction activity picks up

AAP logoAAP 26/09/2016 Peter Trute

Home buyers and property investors have been busy with auction clearance rates picking up around the country.

Data from CoreLogic shows that 78.3 per cent of the 2,445 residential property auctions held across capital cities in the week to Sunday, resulted in a sale, up from a 76.2 per cent clearance rate for the 2,149 properties in the previous week.

At the same time a year ago, there were more auctions, with 2,835 properties under the hammer, and the clearance rate was lower at 69.7 per cent.

CoreLogic said auction clearance rates had been consistently higher for the first four weeks of spring compared with the period a year earlier but auction volumes had been around 20 per cent lower.

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