Sydney auction clearance rates continue to improve

There 453 residential properties listed for auction in Sydney last weekend, with 75 per cent selling on the day. Those results are up from last week when 65 per cent of 381 properties sold at auction and better than the results from the same weekend last year when 67 per cent of 233 properties sold at auction in Sydney.

Melbourne auction results also improved with 842 homes put under the hammer.77 per cent sold on the day, Last week 77 per cent of 720 properties listed for auction in Melbourne sold on the day. On the same weekend last year 71 per cent of just 335 properties sold at auction in Melbourne.

In Adelaide, 61 per cent of 48 properties sold at auction, in results that largely mirrored last week’s results. Brisbane’s auction clearance rate dipped to 23 per cent of 55 properties.

Source: Australian Property Monitors

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