Footy fever cools homebuyer demand

Football grand finals in both Sydney and Melbourne significantly dampened homebuyer spirits over the weekend.

In Sydney, just 54.1 per cent of the 195 properties listed for auction cleared.

The most expensive property sold at the weekend was a five bedroom house in Putney, which went under the hammer for $3.15 million; the least expensive property sold was a $185,000 one bedroom house in The Entrance.

In Melbourne, the story was much the same.

According to figures from Australian Property Monitors, 61.2 per cent of properties cleared at auction – down from the 77.6 per cent cleared this time last year.

But despite the drop in clearance activity, REIV chief executive Enzo Raimondo said the results were sound given the conflict with the AFL Grand Final.

“The clearance rate has also improved slightly compared to the overall result in September,” Mr Raimondo said.

Football grand finals in both Sydney and Melbourne significantly dampened homebuyer spirits over the weekend.

In Sydney, just 54.1 per cent of the 195 properties listed for auction cleared.

The most expensive property sold at the weekend was a five bedroom house in Putney, which went under the hammer for $3.15 million; the least expensive property sold was a $185,000 one bedroom house in The Entrance.

In Melbourne, the story was much the same.

According to figures from Australian Property Monitors, 61.2 per cent of properties cleared at auction – down from the 77.6 per cent cleared this time last year.

But despite the drop in clearance activity, REIV chief executive Enzo Raimondo said the results were sound given the conflict with the AFL Grand Final.

“The clearance rate has also improved slightly compared to the overall result in September,” Mr Raimondo said.

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