In recent years, the Australian property market has been through some ups and downs. With the ongoing COVID-19 pandemic, the market faced unprecedented challenges, and many feared that it would take a long time to recover. However, recent statistics suggest that the market is on the rise, and the clearance rate in Australia is one such indicator.
What is the clearance rate?
The clearance rate in Australia is a measure of how many properties were sold at auction compared to how many were listed. In other words, it represents the percentage of properties that were successfully sold at auction. A higher clearance rate is generally seen as an indicator of a healthy market.
According to recent data, the clearance rate in Australia has been steadily increasing, indicating that the property market is recovering. In some areas, clearance rates have even surpassed pre-pandemic levels. This trend is particularly encouraging for those who have been looking to buy property.
How to take advantage of this!
Many people who were considering buying property may have been hesitant due to the uncertain market conditions. However, with the clearance rate on the rise, now may be a great time to buy. As the market continues to recover, it is likely that house prices will increase, and those who buy now could benefit from increased property values in the future.
It is important to note that despite the rise in clearance rates, some people may still be hesitant to buy due to negative news reports about the property market. However, it is important to take these reports with a grain of salt. While there may be some challenges facing the market, the rising clearance rate is a strong indicator that the market is recovering.
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