Weekend auction clearance rates in Sydney recovered to more typical levels this last weekend. No auctions were held in Beecroft of Cheltenham, but Ray White Beecroft experienced a significant increase in visitors to homes open for inspection, issued a number of contracts, and logged several good offers on houses.
One factor in this new interest was Westpac's report that they believe interest rates will fall. There has been a lot of newspaper comment criticising last year's high interest rate increases, which was followed by a major drop in buyer activity. Now it looks as though things are recovering.
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