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Auction activity slides

06 July 2009 Reporter

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.

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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