Auctions are becoming ever more competitive

Highlights:

Australian auction clearance rates are at their highest in two years. With fewer properties on the market in parts of the country, buyers have been increasingly hunting for rarer options.
According to figures published in the Australian, auction clearance rates have been approaching 2007 on a national scale.

"Interest rates are low, and the First Home Owner Grant is making buying easier for some," said Nick McGuire, director at PRDnationwide New Farm. "The market has bottomed, and these were real sellers - not pretend ones."

Source: Your Mortgage magazine
 
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