Auction clearance rate climbs as high as 87.5pc

Sydney and Melbourne have recorded their biggest auction sales results of 2015.

Sydney had 763 auction sales at the weekend – a 38.2 per cent jump on the year before, according to APM PriceFinder.

The clearance rate reached 87.5 per cent, compared with 73.6 per cent for the corresponding weekend last year.

The median house sale price rose 21.6 per cent to $1.3 million and the median unit sale price rose 7.5 per cent to $755,000.

Melbourne sales numbers climbed 15.7 per cent to 876, with the clearance rate increasing from 68.3 per cent to 78.9 per cent.

House prices grew 5.9 per cent to $847,000 and unit prices grew 17.2 per cent to $580,000.

Sales for Brisbane rose 11.4 per cent to 39, while the clearance rate rose from 38.9 per cent to 46.4 per cent. However, house prices fell 12.5 per cent to $595,000.

Adelaide sales numbers jumped from 42.9 per cent to 50 per cent. Despite the clearance rate slipping from 63.6 per cent to 62.5 per cent, house prices increased 3.7 per cent to $600,000.

[Related: The previous weekend’s auction results]

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