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Auction activity down

Staff Reporter 1 minute read

Prospective buyers have stayed away from the auctions again this weekend as auction clearance rates continue to decline.

In Sydney just 48 per cent of properties up for auction went under the hammer compared to 63 per cent for the same weekend last year, according to Australian Property Monitors (APM).

In Melbourne the clearance rate was 53 per cent, down from 61 per cent the weekend before, and almost 30 per cent down from 2007.

The clearance rate in Brisbane managed to pick up, albeit from a low base, rising to 42 per cent from 22 per cent the week before.

Published: 22-09-08

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