Sydney, Brisbane auction results improving

Almost 70 per cent of 248 residential properties put up for auction in Sydney on Saturday sold on the day. That result was an improvement on last week’s results when the auction clearance rate was 67 per cent of 205 properties. On the same weekend last year, just 48 per cent of 248 properties sold.

In Melbourne, 79 per cent of 437 properties put up for auction sold on the day, continuing the very good results for Melbourne auctions that have been recorded over the last few months. Last week, 85 per cent of 413 properties sold at auction. On the same weekend last year, just 50 per cent of 400 properties listed for auction sold on the day.

The Brisbane auction market shows signs of improvement, with 40 per cent of 65 properties sold at auction on the weekend, up from 31 per cent of 37 properties last week and 25 per cent of 75 properties on the same weekend last year.

In Adelaide, 40 per cent of 24 properties sold under the hammer on Saturday.

Source: Australian Property Monitors

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