Sydney auction results improving

The auction clearance rate in Sydney topped seventy per cent for the second week in a row. 70.1 per cent of 326 residential properties put up for auction on Saturday were sold on the day. Last week 72 per cent of 318 properties sold at auction. Those results compare well with the same weekend last year, when 45 per cent of 258 properties listed for auction were sold on the day.

Melbourne auction results continue their outstanding run with 76 per cent of 606 properties put up for auction on Saturday selling on the day. On the corresponding weekend last year, 81 per cent of 582 properties sold at auction. Final results from last week show that 81 per cent of 694 properties sold at auction in Melbourne.

In Adelaide, 74 per cent of 34 properties sold at auction while 35 per cent of 55 properties listed for auction in Brisbane sold on the day.

Source: Australian Property Monitors