Auction clearance rates improve –slightly

Sydney’s auction clearance rate improved slightly this week to 62 per cent from 55 per cent last week. 460 residential properties were listed for auction in Sydney, down slightly from last week when 485 properties were auctioned in Sydney. On the same weekend last year, 66 per cent of 369 properties were osld at auction in Sydney.

There were only 202 auctions held in Melbourne on Labour Day long weekend for a clearance rate of 60 per cent, down from last week – 64 per cent – and down from the same weekend last year – 76 per cent. In Adelaide, 56 per cent of 35 properties sold at auction on Saturday while 21 per cent of 31 properties sold at auction in Brisbane.

Source: Australian Property Monitors