Auction clearance rates remain flat

Auction clearance rates remained subdued this week. In Sydney there were 335 properties listed for auction this weekend with 61 per cent selling on the day, compared with 59 per cent last week. On the same weekend last year, the clearance rate in Sydney was 72 per cent.

In Melbourne, 822 properties were listed for auction this weekend with 59 per cent selling. Last week in Melbourne, 68 per cent of properties listed for auction sold on the day. Last year the clearance rate for the corresponding weekend in Melbourne was 68 per cent.

In Adelaide, 34 per cent of 49 properties sold at auction and 31 per cent of 48 properties sold at auction in Brisbane.

Source: Australian Property Monitors