Interest rate rise fails to deter buyers
Published May 6th, 2006
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STRONG auction sales in Adelaide yesterday resulted in almost $6 million of property going under the hammer – dispelling fears this week’s interest rate rise would deter homebuyers.
Bidders weren’t shy yesterday, with 17 of the 29 homes up for auction being sold, according to results supplied by real estate analyst Australian Property Monitors.
The 57 per cent clearance rate was slightly better than last Saturday’s results and a marked improvement on the 41 per cent recorded at the same time last year.
Brock Harcourts chief executive officer Greg Moulton, whose company sold all five of its properties under the hammer, said he was delighted.
