Record number of Sydney auctions

There were 690 auctions held in Sydney on the weekend, a new record, up from 437 last week and 374 on the same weekend last year. The clearance rate dipped slightly to 63 per cent from, 70 per cent last week, but still an improvement on last year’s results of 53 per cent.

There were 96 auctions held in Melbourne on Saturday, a new record for AFL Grand Final day. The clearance rate was again very strong at 78 per cent, compared to last week’s results when 79 per cent of 894 properties listed for auction sold on the day. On the same weekend last year, 57 per cent of 27 properties sold at auction on AFL grand final day.

In Adelaide there were just 16 auctions held with 57 per cent of properties selling on the day.

44 per cent of 55 properties were sold at auction on the weekend in Brisbane, in results broadly similar to the recent results on Brisbane and last year’s results.

Source: Australian Property Monitors