Melbourne cracks 1000 auctions

There were more than 1,000 residential property auctions held in Melbourne on Saturday. 74 per cent of the 1054 properties put up for auction sold on the day. Last week 76 per cent of 712 properties sold at auction in Melbourne, while on the same weekend last year, there were 893 auctions held with a clearance rate of 46 per cent.

Sydney results continued to improve with 67 per cent of 494 properties listed for auction selling on the day. Last week 65 per cent of 444 properties sold on the day, while on the same weekend last year, 42 per cent of 533 properties sold at auction in Sydney.

63 per cent of 48 properties sold at auction in Adelaide on Saturday, an improvement on last week and last year’s results. Brisbane auction results also showed signs of life with 55 per cent of 53 properties listed for auction selling on Saturday.

Source: Australian Property Monitors

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