Auction sales significantly down on last year

There were big jumps in clearance rates over the weekend – along with big falls in sale numbers.

Sydney’s clearance rate over the weekend was 84.6 per cent – up on the 79.0 per cent recorded at the same time last year, according to Australian Property Monitors.

However, the number of sales fell 24.0 per cent to 452.

The median price of the houses sold jumped 13.9 per cent to $1.3 million, while the median unit price rose 4.0 per cent to $748,000.

Melbourne’s clearance rate increased from 71.9 per cent to 77.3 per cent, while sale numbers declined 28.3 per cent to 552.

Median house prices climbed 6.5 per cent to $852,000, but median unit prices dropped 2.9 per cent to $486,000.

Brisbane enjoyed the biggest clearance rate spike – up from 45.3 per cent to 57.1 per cent. Sales numbers fell 17.6 per cent to 28 and median house prices grew 13.9 per cent to $813,000.

Adelaide’s clearance rate rose from 58.6 per cent to 61.5 per cent. Sales dropped 41.5 per cent to 24 and the median house price climbed 2.6 per cent to $595,000.

[Related: ‘Unprecedented confidence’ drives auctions surge]

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