Sydney auctions show improvement

Sixty five per cent of 444 residential properties listed for auction on Saturday sold on the day, up from last week’s results (64 per cent of 397) and the results recorded on the same weekend last year – 42 per cent of 396.

Melbourne auction clearances remained above 70 per cent with very high volumes. 73 per cent of 716 properties listed for auction in Melbourne on Saturday sold on the day. Last week, 77 per cent of 740 properties sold at auction in Melbourne. On the same weekend last year 48 per cent of 670 auctions resulted in a sale.

In Adelaide, 50 per cent of 45 properties sold at auction, up from last week’s 50 per cent of 30. There were only 37 auction in Brisbane on Saturday, about half the normal rate, with 43 per cent resulting in a sale.

Source: Australian Property Monitors