Sydney auction results picking up for Spring

Auction results in Sydney continued to pick up this week with 671 residential properties listed for auction with 57 per cent selling on the day. Last week in Sydney there were 550 properties listed for auction with a clearance rate of 61 per cent. Those results were slightly down on those from the same weekend last year when 64 per cent of 690 auctions held in Sydney produced a sale.

Melbourne auctions had a weekend off for the AFL Grand Final. There were just 45 auctions held in Melbourne on Saturday with 67 per cent producing a sale. Last weekend in Melbourne, 66 per cent of 775 auctions held in Melbourne produced a sale. On Grand Final day last year, there were 95 properties put up for auction with 86 per cent selling on the day.

In Adelaide, 52 per cent of 37 properties sold at auction, down from last week when 50 per cent of 73 properties sold on the day. In Brisbane, just 21 per cent of 59 properties sold at auction on the weekend, in more slow auction results for the Queensland capital.

Source: Australian Property Monitors