Australia’s auction clearance activity picked up slightly at the weekend.
In Sydney, 61.1 per cent of properties cleared – marginally better than the 57.6 per cent achieved last weekend.
The most expensive property sold at the weekend was a five bedroom house in Artarmon, which went under the hammer for $2.6 million. The cheapest property to sell was a three bedroom unit in Harris Park, which sold for $330,000.
The story in Melbourne was much the same.
Almost 60 per cent of properties cleared at the weekend – slightly higher than the 54.5 per cent recorded last week, according to Australian Property Monitors.
But while auctions clearance rates improved in both capital cities, conditions are expected to deteriorate next weekend as winter hibernation sets in.