1000 Auction weekend in Melbourne

Sydney recorded very good Auction results on the weekend with more than 70 per cent of 771 residential properties listed for auction selling on the day. Last week, 72 per cent of 451 properties sold at auction in Sydney. On the same weekend last year, 64 per cent of 369 properties sold at auction in Sydney.

Melbourne results were even better with 76 per cent of 1072 properties selling at auction on the weekend. Last week, 82 per cent of 836 auctions produced a sale on this Saturday last year, 70 per cent of 391 properties sold at auction in Melbourne.

There were 61 auctions held in Adelaide on Saturday with 66 per cent producing a sale, up from last week and last year. In Brisbane there were more auctions – 87 – but the clearance rate dropped to 27 per cent.

Source: Australian Property Monitors