Auction clearance rates continued to climb in Sydney over the weekend however the number of properties going under the hammer has dropped.
The city achieved a clearance rate of 66.1 per cent, up from the 60.6 per cent registered last weekend and 50.0 percent at the same time last year.
Only 123 properties were sold compared to the 203 that met sale last weekend. The 52 week high for Sydney auction clearance rates now sits at 71 per cent, the low 40 per cent.
In Melbourne the auction clearance rate was down by 10 per cent on the week prior, clocking in at 58.8 per cent compared to 68.2 per cent. The result was also a slight drop on the 59.6 per cent achieved on the same weekend last year.
Moreover, only 30 properties went under the hammer on the weekend, which was markedly down on the 320 that met sale last weekend and the 204 that were sold the same weekend last year.
Brisbane achieved a clearance rate of 25.7 per cent, with 9 properties sold, down from last weekend’s 31.3 per cent and 42.2 per cent achieved the same weekend last year.
Overall, the city has achieved a 52 week high clearance rate of 48 per cent and a low of 0 per cent.
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