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Queen’s Birthday no good for auctions

15/06/2010

Auction results were subdued for the Queens’ Birthday weekend. In Sydney there were 274 residential property auctions with 61.2 per cent resulting in a sale on the day. That was down from last week when there were 530 auctions for a clearance rate of 62 per cent.

In Melbourne there were just 286 auctions held with a clearance rate of 60 per cent, down from 884 auctions and 65 per cent last week. In Adelaide, 42 per cent of 37 properties sold at auction on the weekend, down from 58 per cent of 53 auctions last week. In Brisbane just 12 per cent of 49 auctions resulted in a sale on Saturday, down from 36 per cent of 56 last week.

Source: Australian Property Monitors



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