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Property market soars in ‘massive weekend’

Article image for Property market soars in ‘massive weekend’

The property market is soaring, with the Sydney clearance rate close to 90 per cent.

Property Auctioneer Damien Cooley told Ben Fordham they sold 50 out of 57 properties at auction over the weekend.

“In a normal market, the clearance rate would sit anywhere between 55 and 65 per cent

“A good market would be 70-75 per cent and a booming market is above 80 per cent. That’s exactly what we’re seeing right now.

“On average we sold for over $100,000 over the reserve price.”

Click PLAY below to hear the full interview

Image: Getty

Ben Fordham
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