Saturday 04th Nov 2023 was another spectacular show of auctions all over Australia, with Adelaide leading the show. RBA will be sitting on 07th Nov 2023 to discuss the cash rate rise; which is inevitable. Buyers with approvals and access to funds were trying their best to secure the properties. The maximum number of properties on sales were in New South Wales where 1544 privates sales and 1108 properties were up for auction. Overall, South Australia produced the best results in Auction Clearance This Week 05 NOV 2023.
Witness the Impact of RBA's Decision on Auction Markets in the month of August 2023. As the Reserve Bank of Australia (RBA) made a pivotal decision to keep the cash rate unchanged at 4.1 percent, its impact was seen throughout the nation in Auction Results 05 AUGUST 2023.
Leading the pack, Sydney recorded the strongest auction clearance rate at an impressive 76.0%. Meanwhile, other capital cities also demonstrated commendable results, with Melbourne at 75.6%, Brisbane at 63.6%, Adelaide at 71.0%, and Canberra at 72.2%. The positive outcome shows a favourable results in Auction Results 30 July 2023.
The winter auctions in Australia are still generating good results for the property owners. Markets in all major cities have shown good results except Melbourne. The Victorian government has implemented new rules that impact the property owners, forcing them to pay more tax on investment properties. The change in rules were certainly visible in the Auction Results 22 July 2023.
As the mid-winter holidays come to a close, the weekend auction markets have returned in full swing across most capitals. Sellers are witnessing continuing positive trends, although there are a few noteworthy exceptions. The Auction Clearance 15 July 2023 in major capital cities produced good results for both sellers and buyers.
With the Reserve Bank of Australia (RBA) maintaining the official cash rate on hold for July 2023 at 4.10% and a scarcity of available homes, this weeks (02 JULY 2023 to 08 JULY 2023) auction clearance rate has witnessed a notable surge, reaching its highest point in five weeks
