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Auction activity slides

By Staff Reporter
06 July 2009 | 1 minute read

Australia’s auction activity was down in every capital city this weekend, with lower auction clearance rates and sales volumes recorded across the board, Australian Property Monitors has revealed.

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Sydney auction results fell dramatically where the clearance rate was down 6.5 per cent compared to the Saturday prior.

The city achieved a clearance rate of 63.3 per cent, with sales volume of $78.6 million, down from $105.8m last weekend.

A Cabarita home topped the list in terms of sales price at $3.8 million; a Watanobbi house the lowest at $180,500.

Melbourne’s clearance rate fell from 83.6 per cent to 81.0 per cent. Just 68 properties were sold, down from 316 the weekend prior.

Sales totaled $29.6 million, falling from last Saturday’s $186.2 million high.

Adelaide’s clearance rate dropped to 26.7 per cent. This compared with the 38.9 per cent achieved the Saturday prior.

Brisbane sold seven properties for a combined amount of $1.6 million, down from 17 properties sold last weekend for a total dollar value of $8.7 million.

Auction activity slides
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