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Auction activity still strong

Staff Reporter 3 minute read

Auction clearance rates continued to perform strongly over the weekend.

Sydney managed to improve on last weekend’s performance, recording a clearance rate of 69.7 per cent, up from the 66.7 per cent achieved last weekend.

More than $100 million in property was sold over the weekend, the most expensive a four bedroom house in Kangaroo Point that was auctioned off for $3.425 million.

The cheapest property sold under the hammer was a three bedroom house in Tuggerawong for $260,000.

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Melbourne’s auction clearance results dipped slightly this weekend compared to last, but remained in positive territory at 63.9 per cent.

Meanwhile, Adelaide outperformed both Melbourne and Brisbane with a clearance rate of 65.6 per cent, which was a significant improvement on this time last year when the capital city achieved an auction clearance rate of 29.4 per cent.

Brisbane managed to achieve an auction clearance rate of 32.3 per cent, up from the 26.5 per cent recorded this time last year.

Auction activity still strong
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