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Reserves smashed in biggest auction week since 2018 – The Australian Financial Review

The boss of Australia’s biggest real estate group predicts further home price records will be broken despite increased supply over the next six weeks.

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Adelaide vendors sold 74 per cent of listed properties, while in Brisbane 69 per cent of homes sold. In Perth, where prices have been tipped to rise the highest this year, the clearance rate was 67 per cent on low volumes.
Ray White Group managing director Dan White said demand levels were astonishing. Although more listings are expected, we dont expect these records to last long, he added.
Theres still a lot more bidders than properties and that excess demand will take a fair while to be fulfilled.

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