Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Auction activity jumps in Sydney and Melbourne

Staff Reporter 3 minute read

The recent surge in home buying activity shows no signs of abating as Sydney and Melbourne both recorded auction clearance results above 70 per cent over the weekend.

More than 260 properties went under the hammer in Melbourne this weekend, 190 of which were sold for a clearance rate of 72.2 per cent.

In Sydney, 79 properties were sold for a combined total of $61.5 million and a clearance rate of 72.5 per cent. The number sold was done on last weekend’s 382 properties however – a possible result of the long weekend and the Rugby League Grand Final.

A property in Clovelly, which sold for $4 million, was the most expensive sale; a two bedroom unit in Mount Druitt was the cheapest at $163,000.

Advertisement
Advertisement

Adelaide and Brisbane also performed strongly, with both capital cities achieving clearance rates over 50 per cent.

In Adelaide 13 properties were sold for $5.6 million – a marked increase on last week’s six properties sold under the hammer.

In Brisbane nine properties were sold over the weekend for a clearance rate of 50.0 per cent. Last week, the clearance rate was 40.8 per cent.

Auction activity jumps in Sydney and Melbourne
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

PROMOTED CONTENT


default

 

more from the adviser
Paul Herbert AMP Newsroom

Breaking News

AMP hires intermediary head

AMP Bank has recruited from MyState for its new head of intermedi...

Theo and Alex Shore Financial

Breaking News

Brokerage officially launches white-label loan

North Sydney-based brokerage Shore Financial has officially launc...

interest rate savings

Breaking News

More clients look to lock fixed rates than 2020

More borrowers are eager to lock in fixed interest rates than thi...