Melbourne auctions deliver for vendors

Auction clearance rates in Sydney on the weekend remained high at 63 per cent from a low volume of 231 auctions. That result is slightly down on the results from last week when 69.8 per cent of 253 properties put up for auction sold on the day. The results were an improvement on the results from the same weekend last year when 47 per cent of 241 properties were sold.

Melbourne auctions continued to deliver for vendors with 81 per cent of 275 properties put up for auction selling on the day. Last week, 83 per cent of the 456 auctions held in Melbourne delivered a sale and on the same weekend last year 57 per cent of 392 properties sold at auction.

Twenty six per cent of just twenty two auctions held in Adelaide on the weekend delivered a sale on the day, down from 39 per cent of twenty one auctions last week and forty per cent of forty five auctions on the same weekend last year.

In Brisbane, twenty seven per cent of 28 properties put up for auction sold on the day, down from 38 per cent of 51 properties last week and 27 per cent of 70 auctions on the same weekend last year.

Source: Australian Property Monitors

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