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Mixed results from weekend auctions

Staff Reporter 3 minute read

Sydney and Melbourne clearance rates both registered declines over the weekend however results were still up on the same time last year.

In Sydney, 187 properties were sold from 271 put under the hammer on Saturday, for a clearance rate of 63.6 per cent. This compared with 65.6 per cent achieved last week, but was markedly up on the 49.3 per cent registered on the same Saturday a year prior.

The 52 week Sydney clearance rate high is 71 per cent, the low 40 per cent.

Melbourne achieved a clearance rate of 67.2 per cent – 92 properties sold from the 133 put up for auction. This compared with last week’s 70.7 per cent and the 56.2 per cent registered on the same Saturday last year.

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The city’s 52 week clearance rate high is comparable to Sydney’s, with a 74 per cent high and a 43 per cent low.

The most expensive property to go under the hammer in Sydney was in Palm Beach for $6 million, eclipsing Melbourne’s $1.45 million in Brighton.

Brisbane achieved an auction rate of 36.4 per cent, which was slightly up on last weekend’s 34.4 per cent but down on the 37.7 per cent achieved at same time last year.

 

Mixed results from weekend auctions
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