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Auction sales volumes take hammering

Staff Reporter 3 minute read

Auction sales volumes plummeted across the eastern seaboard on Saturday compared to the Saturday prior, Australian Property Monitors has revealed.

The clearance rate in Sydney slid to 66.8 per cent from last Saturday’s 68.9 per cent however sales volume was dramatically down to $72.3 million from $137.6 million and $101.5 million on the same Saturday last year.

Melbourne also registered a large drop to it sales volume on the Saturday just past: $58.4 million compared to $166.5 million the Saturday prior and $146.8 million on the same Saturday last weekend.

An auction rate of 74.3 per cent was also down on last Saturday’s 82.3 per cent but up on the same Saturday last year’s rate of 56.4 per cent.

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Brisbane recorded a clearance rate of 46.2 per cent for $6.1 million in sales on the Saturday, down on last Saturday’s 63.3 per cent for $9.2 million.

Only Adelaide was able to post some positive results, pushing its clearance rate up from last Saturdays 41.3 per cent to 61.9 per cent, with $4.7 million in sales compared to the Saturday prior’s $2.6 million.

 

 

 

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