While homebuyers took a cautious approach to 2008’s first major weekend of auctions there was a slight improvement to buying activity compared to the same time last year, according to clearance data from Australian Property Monitors (APM).
Sydney achieved a clearance rate of 56 per cent – almost 10 per cent more than the same time a year ago. Of the 77 properties listed, 59 were sold.
Adelaide also started the year strongly with a clearance rate of 66 per cent, with 29 properties sold out of the 43 listed.
Melbourne’s clearance rate was a slower 50 per cent however – with only 29 properties listed for auction, compared to 55 this time last year.
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