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Auction clearance rates have surpassed 80 per cent for the eighth consecutive weekend in Sydney and sixth weekend in a row in Melbourne.
Sydney’s clearance rate was 83.2 per cent, compared to 70.7 per cent on the corresponding weekend last year, according to APM PriceFinder.
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Property sales jumped 22.7 per cent to 475, with the median price for house sales up 22.0 per cent to $1.3 million and the median price for unit sales up 18.8 per cent to $844,000.
Melbourne’s clearance rate reached 80.9 per cent, compared to 67.7 per cent the year before.
Sales rose 15.6 per cent to 585, with median house prices rising 16.8 per cent to $923,000 and median unit prices rising 0.9 per cent to $535,000.
Nationally, the clearance rate jumped from 66.3 per cent to 79.5 per cent.
Sales increased 17.2 per cent to 1,127, with house prices increasing 23.2 per cent to $1 million and unit prices increasing 11.6 per cent to $675,000.
The weekend’s biggest auction result occurred in Melbourne, where Gary Peer & Associates sold a four-bedroom Glen Iris home for $3.65 million.
Sydney’s most expensive result was a three-bedroom Mosman residence, which was sold by McGrath Estate Agents Mosman for $3.05 million.
In Adelaide, Mayo Real Estate sold a four-bedroom Norwood house for $1.96 million; in Canberra, Peter Blackshaw Manuka sold a four-bedroom Deakin house for $1.67 million; and in Brisbane, Crown Properties sold a three-bedroom Redcliffe house for $1.02 million.
[Related: Melbourne market rebounds after rate cut]
