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Auction clearance rates surge

20 July 2009 Reporter

Sydney’s auction clearance rate surged over the weekend, hitting 74.7 per cent, statistics from Australian Property Monitors (APM) have revealed.

According to the statistics this time last year the clearance rate was 45.7 per cent ,with the amount of property sold totaling $59.9 million.

A Bellevue home topped the list in terms of sales price at $ 3.33 million; a Willmot house the lowest at $180,000.

Melbourne continued its run of high auction clearance rates at 81.3 per cent.

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According to APM, the clearance rate takes Melbourne into its tenth week of clearance rates around 80 per cent.

More than 100 properties were sold for a total sales volume of $53.7 million on Saturday.

In Brisbane, the clearance rate of 56.5 per cent was close to a 12 month high; $5.3 million of property sold.

Adelaide achieved a clearance rate of 65 per cent with $4.3 million is sales volumes recorded.

Auction clearance rates surge
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