Auction results improve, slightly

The auction clearance rate in Sydney improved slightly on the weekend to 63.2 per cent but numbers were still subdued. 127 properties sold at 229 auctions in Sydney on Saturday, down from 132 successful auctions last week and 252 on the same weekend last year.

In Melbourne 99 properties sold from 396 listed for sale with many results as yet unreported. On the same weekend last year, 734 properties sold from 1265 listed for auction in Melbourne. The results were an improvement on last week's Melbourne figures of 67 sales from 133 listed for auction.

Six properties sold at auction in Adelaide on Saturday and five in Brisbane.

Source: Australian Property Monitors