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Melbourne auctions disappoint

Staff Reporter 3 minute read

Melbourne auctions recorded a disappointing result on the weekend, newly released figures today revealed.

Of the 28 properties put up for sale on the 7 February just 48 per cent were sold, according to Australian Property Monitors.

This compared to a clearance rate of 75 per cent the weekend before and a clearance rate of 78 per cent in Sydney on the weekend just passed.

Melbourne’s auctions market did however manage to perform better than those of Adelaide and Brisbane which reported clearance rates of 43 and 38 per cent respectively on Monday.

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