Auction results still depressing

The Auction clearance rate continued to slowly improve in Sydney, with almost 69 per cent of properties listed for auction selling on Saturday. There were 129 successful auctions on Saturday in Sydney, about the same as the previous weekend.

In Melbourne there were 71 properties sold at auction for a clearance rate of 68 per cent, which was down on last week's results when 228 properties were sold.

Just two properties were sold at auction in Adelaide on Saturday and nine in Brisbane.

Source: Australian Property Monitors