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Auction sales volume stalls

Staff Reporter 2 minute read

Auction sales volume was markedly down over the weekend, a likely result of ANZAC day memorial services.

The clearance rate in Sydney jumped to 67.9 per cent from last weekend’s 59.0 per cent Australian Property Monitors (APM) has revealed, however only $12.1 million in value went under the hammer compared to last weekend’s $113.2 million.

The same weekend last year registered a clearance rate of 54.2 per cent and a sales volume of $75.6 million.

A three bedroom house in Kingsford achieved the highest sale price of $1,265,000; the lowest was in Petersham where a one bedroom was sold for $387,000.

Melbourne registered a drop in its clearance rate. Just 21 of the 33 properties reported for auction went under the hammer for a clearance rate of 63.6 per cent. This compared with last weekend’s 77.4 per cent and 62.8 per cent on the same weekend last year.

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Only $11.5 million in property was sold on the weekend compared to $146.7 million the weekend prior and $85.0 million the same weekend last year.

A three bed town house in Camberwell achieved the highest sales price of $901,000.

In Adelaide the clearance rate was up by 5.2 per cent to 66.7 per cent, however volume was down – only $0.4 million in property was sold last weekend compared to the $7.9 million the weekend prior.

The clearance rate in Brisbane was zero per cent.

 

Auction sales volume stalls
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