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Auction clearance rate remain below 70pc

Staff Reporter 1 minute read

Auction activity remains subdued across the nation with the national clearance rate remaining firmly below the 70 per cent mark.

The number of properties sold at auction in Sydney rose by 6.1 per cent on Saturday from the weekend prior to a clearance rate of 67.3 per cent.

The dollar value by volume was also stronger in comparison: $115.0 million compared to last Saturday’s $83.5 million. This consisted of 150 properties sold of the 210 reported for auction; the highest priced achieved was $4.3 million for a six bedroom house in Elizabeth Bay.

This compared to the $2.7 million high for a Melbourne property, a six bedroom house in Balwyn North.

Overall, Melbourne registered a clearance rate of 66.7 per cent, down from the 74.7 per cent registered last Saturday although up from the 59.3 per cent recorded on the same Saturday last year.

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In Adelaide the clearance rate continued to bounce along in the circa 40 per cent range, with few properties meeting sale. Only 12 properties were sold on the weekend by auction; last week there were eight.

Brisbane clearance rates were also sluggish at 38.9 per cent albeit up on last Saturday’s 30.2 per cent and the 20.0 per cent registered on the same Saturday last year.

 

Auction clearance rate remain below 70pc
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