A mildly elevated level of stock in Sydney and Melbourne was not enough to satisfy cashed-up buyers, as the usually quiet months of January and February kicked off with strong clearance rates.
The clearance rate in Sydney hit 84.8 per cent while Melbourne's rate reached 75.4 per cent, according to Corelogic's preliminary tally. Domain's numbers were similar at 84 per cent for Sydney and 79 per cent for Melbourne.
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Su-Lin Tan reported on housing, commercial real estate and property finance. She also covered China and Asian business, trade and politics. Connect with Su-Lin on Twitter. Email Su-Lin at stan@afr.com.au
