Auctions delivering for vendors

Auction results in capital cities continued to show improved results for vendors. In Sydney on the weekend, 72 per cent of 432 residential properties listed for auction were sold on the day, up from 68 per cent of 339 properties last week. On the same weekend last year. just 47 per cent of 306 properties were sold at auction.

Melbourne auctions continued to deliver impressive results, with 76 per cent of 889 properties listed for auction selling on the day. Last week 77 per cent of 749 properties sold under the hammer and on the same weekend last year, 56 per cent of 665 properties sold at auction in Melbourne.

In Adelaide, 47 per cent of 41 properties listed for auction sold on Saturday, slightly down on last week, but well ahead of the results from the same weekend last year.

In Brisbane, 40 per cent of 65 properties listed for auction sold, again slightly down on last week, but well ahead of last year's results.

Source: Australian Property Monitors