Auctions action

Sentiment shift

Auction clearance rates in Sydney and Melbourne continue to hit into the mid low-to-mid 70s.

A year ago Sydney had a clearance rate in the 40s, so it’s quite a turnaround, albeit on low volumes.

Source: Shane Oliver (AMP)

The clearance rate in both cities was higher for units than houses this week, at about 80 per cent.

There’s somethings of a mini-mortgage war getting underway.

Lenders are busy cutting fixed rates, and quite aggressively in some cases.