Winter auction clearance rates holding up
Sydney’s auction clearance rate improved this week with 65 per cent of 547 residential properties put up for auction on Saturday selling on the day. Last week 61 per cent 635 properties sold under the hammer. On the same weekend last year, 67 per cent of 214 properties sold at auction in Sydney.
Melbourne’s auction results were slightly down on the bumper results from last weekend. 62 per cent of 895 properties sold at auction in Melbourne. Last weekend 68 per cent of 936 properties that were auctioned sold on the day. On this weekend last year, there were just 120 auctions held in Melbourne with 68 per cent producing a sale. In Adelaide there were 53 auctions held with 56 per cent producing a sale. In Brisbane, 41 per cent of 61 properties put up for auction sold on Saturday.
Source: Australian Property Monitors