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Sydney auctions bounce back, slightly

26/07/2010

Sydney’s auction clearance rate jumped up this weekend to 69 per cent from 55 per cent last week. There were 349 residential property auctions held in Sydney on Saturday, which was also up on last week when there were 318 auctions. On the same weekend last year, there were 263 auctions held in Sydney with a clearance rate of 68 per cent.

In Melbourne there were 588 auctions held this weekend with a clearance rate of 56 per cent, down from last week when 66 per cent of 558 auctions produced a sale on the day. On the same weekend last year, 80 per cent of 429 auctions held in Melbourne produced a sale. In Adelaide, 68 per cent of 33 properties produced a sale. In Brisbane, 25 per cent of 44 properties listed for auction sold on Saturday.

Source: Australian Property Monitors



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