Auction sales volumes, clearance rates down

Staff Reporter Tuesday, 9 Jun 2009 1 minute read

Auction clearance rates and volumes on the eastern seaboard posted falls as Australians celebrated the Queen’s birthday long weekend.

Sydney recorded just $60.2 million in sales for a clearance rate of 66.9 per cent on Saturday, according to Australian Property Monitors. This compared with $169.2 million in sales the Saturday prior.

In Melbourne, sales volumes managed to hit just over $20 million, a sharp drop on last weekend’s $188.8 million. The clearance rate was also down from last Saturday’s 78.1 per cent to 70.8 per cent.

Sales volume in Adelaide was comparatively strong on the Saturday prior – $3.1 million compared to $4.3 million – however the clearance rate took a hammering, down to 35.5 per cent from 55.0 per cent last weekend. The rate is still above the 52 week low of 11 per cent.

Brisbane’s sales volume plummeted to $2.2 million for a clearance rate of 36.8 per cent. Last Saturday recorded $10.2 million in sales for a clearance rate of 49.1 per cent.

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