Auction results improving
Auction clearance rates improved slightly this week after a run of bad results in recent weeks.
There were 641 properties listed for auction in Sydney on Saturday. 55 per cent were reported as sold on the day, up from 51 per cent last week when 535 properties were put up for auction in Sydney. On the same weekend last year, 70 per cent of 439 properties sold at auction in Sydney.
In Melbourne there were 915 properties put up for auction with 62 per cent selling on the day, up from 58 per cent of 849 properties last week. On the same weekend last year, 78 per cent of 957 properties sold at auction in Melbourne.
In Adelaide, there were 88 properties put up for auction with 48 per cent selling. In Brisbane 18 per cent of 69 properties sold at auction this week.
Source: Australian Property Monitors