Adelaide property market
PUBLISHED 21 March 2007
AUCTION clearance rates are running high in Adelaide as both buyers and sellers turn to the age-old method of buying property.
The clearance rate of residential property has not fallen below 70 per cent for the past six weeks, with no sign of subsiding.
At this time last year, clearance rates were between 50 and 60 per cent.
Real Estate Institute of South Australia president Mark Sanderson said there was strong demand for property across the metropolitan area and the high clearance rate at auctions confirmed this.
“Buyers are active in the market at the moment and so people are choosing to sell by auction as it’s a transparent and open method of sale,” he said.
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