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Auction clearance rates strong year-on-year

Staff Reporter 2 minute read

Sydney and Melbourne clearance rates posted solid increases compared to the same weekend last year, according to Australian Property Monitors.

In Sydney, 205 properties were sold for a clearance rate of 73.2 per cent. This compared with last Saturday’s 58.9 per cent and the 46.4 per cent registered on the same Saturday last year.

While a strong result, Saturday’s rate still lagged behind the 52 week high clearance rate of 76 per cent.

In total $142.2 million in sales was recorded, with a four bed house in Clovelly achieving a city-wide high of $2.6 million.

Melbourne’s clearance rate hit 73.3 per cent, which was up by 11.7 per cent on the rate achieved on the same Saturday last year although down on last Saturday’s 76.1 per cent.

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The sales volume of $61.8 per cent was markedly down on last weekend’s $147.3 per cent and the $190.1 million registered on the same Saturday last weekend.

A four bedroom house in Brighton achieved the highest sales price of $4.0 million.

Adelaide achieved a clearance rate of 52.6 per cent, up from last weekend’s 45.0 per cent, for a total sales volume of $3.8 million.

Brisbane’s rate dropped from last weekend’s 42.4 per cent to 35.0 per cent. Only $2.0 million in property was sold overall.

 

Auction clearance rates strong year-on-year
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