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Auctions remain slow

Staff Reporter 1 minute read

Auction activity picked up slightly over the weekend however homebuyers continue to act cautiously in the face of ongoing economic uncertainty.

In Brisbane, the clearance rate picked up significantly to 40 per cent, albeit off a very low base of 24.5 per cent the weekend before, Australian Property Monitors data showed.

Sydney’s clearance rate rose to 55 per cent, compared to 48.5 per cent the week before and in Melbourne the clearance rate rose by just under one per cent to 55.2 per cent.

Published: 20-10-08

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