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Mixed results for weekend auction activity

Staff Reporter 4 minute read

Sydney auction results held stable on Saturday, with little movement in the auction clearance rate or sales volume from the weekend prior, Australian Property Monitors has revealed.

The city achieved a clearance rate of 72.6 per cent, up from last Saturday’s 63.3 per cent however sales volumes were on par: $95.3 million this weekend compared to $94.2 million last weekend and $98.7 million on the same Saturday last year.

The 52 week auction clearance rate high remains at 73 per cent.

A Kangaroo Point home topped the list in terms of sales price at $4.7 million; a Lakemba unit the lowest at $179,000.

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Melbourne sales volumes took a hammering compared to last weekend’s results – a result of fewer properties on the market.

Last weekend 329 properties sold for a collective $185.5 million, this Saturday 130 for $64.0 million. Clearance rates were comparable: 79.3 per cent this Saturday and 79.7 per cent last Saturday.

Activity in Adelaide remains subdued, with only $1.3 million in property sold on Saturday at a clearance rate of 35.3 per cent. This compared with the 61.9 per cent registered last weekend and the $63.3 per cent ($11.1 million in total sales) on the same Saturday last weekend.

The Adelaide 52 week clearance rate high is 100 per cent.

Brisbane’s results were down on last Saturday although stronger than those recorded on the same Saturday last year.

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In total $6.8 million was sold for a rate of 35.0 per cent compared to last Saturday’s 44.7 per cent for $7.3 million and 26.2 per cent ($5.9 million) on the same Saturday last year.

Mixed results for weekend auction activity
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