Auctions now a 50/50 bet in Sydney
Auction results improved slightly this week in Sydney with 6 per cent of 349 properties listed for auction on Saturday selling on the day. Last week 55 per cent of 357 properties sold at auction in Sydney. On the same weekend last year, 68 per cent of 244 properties sold at auction in Sydney.
In Melbourne, 68 per cent of 500 properties put up for auction sold under the hammer on Saturday. Last week 67 per cent of 545 auctions held in Melbourne produced a sale. On the same weekend last year, 81 per cent of 438 properties produced a sale. In Adelaide, 53 per cent of 38 properties sold at auction. In Brisbane, 25 per cent of 31 properties listed for auction sold on Saturday.
Source: Australian Property monitors