Auction sales volumes in Melbourne and Sydney were down on the weekend, Australian Property Monitors has revealed.
Melbourne achieved a clearance rate of 71.7 percent, marginally down from the 71.9 per cent achieved on the Saturday prior. However total sales volume dropped from $131.1 million to $47.7 million.
The sales volume on the same Saturday last year was $146.2 million.
In Sydney the auction clearance rate of 66.2 per cent was also slightly down from last Saturday's 66.5 per cent.
Like Melbourne, overall Sydney sales volume was also down. Just 145 properties of the 204 reported for auction sold for a total sales price of $92.6 million. Last Saturday registered a sales volume of the $124.9 million.
Adelaide’s auction clearance rate jumped to 70.6 per cent from last Saturday’s 44.4 per cent, however just $5.0 million was sold compared to $7.2 million the Saturday prior.
In Brisbane the auction clearance rate slipped to 33.3 per cent, with just six properties sold for $2.7 million. This compared to last Saturday's clearance rate of 46.2 per cent and a sales volume of $10.9 million.
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