Buyers are snapping up the limited supply of homes with most eager for a new rather than old property, he added.In Melbourne, 1241 homes were taken to auction this week with a preliminary clearance rate of 77 per cent - making it the second busiest for the year in the city.
This compares to 1032 homes taken to auction returning a final clearance rate 71.7 per cent in the previous week.First-home buyers going to apply for a government scheme to help them into a home in Melbourne next year, will compete with a 2.3 per cent price growth, Mr Brogan said. In Sydney, 932 homes were taken to auction in the week with a preliminary clearance rate of 77.2 per cent, up from the previous week's 76.8 per cent final clearance rate.
Across smaller markets, Adelaide had an increase in auction volumes week-on-week while Brisbane, Canberra and Perth had fewer homes taken to auction.Canberra: 79 per cent
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