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.

Clearance rates dip in major cities

Staff Reporter 3 minute read

Weekend auction clearances dropped slightly in Sydney and Melbourne over the weekend, with both cities achieving less than 80 per cent, according to Australian Property Monitors.

In Melbourne, 183 of the 239 properties up for auction were sold for a clearance rate of 75.3 per cent – down from the 79.3 per cent recorded last weekend.

In Sydney, $98.6 million in property was sold for a clearance rate of 62.2 per cent. Of the 206 properties listed for auction 145 were sold.

A four bedroom house in Castlecrag registered the highest sales price of $1.84 million; while a two bedroom unit in Warwick Farm was cheapest at $151,000.

Advertisement
Advertisement

While Sydney’s 62.2 per cent clearance rate was significantly higher than the 49.2 per cent recorded this time last year, it was still a fall from the 65.0 per cent recorded last weekend.

Adelaide and Brisbane achieved similar clearance rates over the weekend, achieving 53.1 per cent and 50.0 per cent respectively.

In Adelaide, 17 of the 30 properties listed for auction were sold for a combined total of $9.6 million, while 15 of the 29 properties listed in Brisbane were sold for $9.0 million.

Clearance rates dip in major cities
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
handshake news Ex-broker head to lead MyState banking

A former broker head has returned to MyState Bank to tackle turna...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...