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Auction clearance rate down

Staff Reporter 2 minute read

The auction clearance rate dropped across four states on Saturday, Australian Property Monitors has revealed.

Sales volumes were also down across all states except for Sydney, which registered a slight $1.3 million increase from last Saturday’s $100.0 million in sales.

In total, Sydney achieved a clearance rate of 58.7 per cent, which compared with last Saturday’s 63.6 per cent and 43.9 per cent achieved on the same Saturday last year.

159 properties were sold for a total sales volume of $101.3 million; 161 properties sold last weekend.

The Melbourne clearance rate dropped to 68.5 per cent from last Saturday’s 77.1 per cent for a total sales volume of $43.8 million – which was markedly down on last Saturday’s $133.8 million.

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Adelaide was only able to achieve $4.4 million in sales for a clearance rate of 52.9 per cent. While down on last Saturday’s rate of 63.6 per cent, it was significantly higher than the 37.8 per cent recorded on the same Saturday last year.

The clearance rate in Brisbane only managed to creep above the 30 per cent band. Seven properties were sold of the 20 reported for auction for a total sales volume of $3.5 million, which compared to last weekend’s $6.7 million and the $7.0 million achieved on the same Saturday last year.

 

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