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Clearance rates fall below 70pc

Staff Reporter 1 minute read

Australia’s auction clearance rates were down below 70 per cent in every capital city except Melbourne on Saturday, Australian Property Monitors has revealed.

Melbourne registered a clearance rate of 78.7 per cent however this was down from last week’s clearance rate of 84.7 per cent. More than 120 properties were sold for a total of $58.6 million

In Sydney the clearance rate increased from 67.0 per cent last Saturday to 69.3 per cent this weekend.

A Strathfield home topped the list in terms of sales price at $ 3.7 million; a Mount Druitt unit the lowest at $190,000.

Adelaide’s clearance rate suffered a steep decline, falling from 81.8 per cent last Saturday to 40.0 per cent this weekend. Just 6 properties were sold for a total of $3.9 million.

Brisbane’s clearance rate rose to 40.5 per cent from the 31.3 per cent recorded last weekend. The total number of houses sold rose from 10 to 15.

Clearance rates fall below 70pc
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