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Auction clearance rates slide

27 July 2009 Reporter

Auction clearance rates slid in almost every capital city this weekend, statistics from Australian property Monitors (APM) has revealed.

Sydney achieved an auction clearance rate of 68.0 per cent, down from 76.2 per cent last weekend, with the amount of property sold totaling $93.6 million.

A Paddington townhouse topped the list in terms of sales price at $ 3.33 million; a parcel of land along the Great Western Highway the cheapest at $150,000.

Melbourne’s run of high auction clearance rates came to an abrupt end, recording a 74.2 per cent clearance rate. This was down from 82.2 per cent the week earlier.

According to APM, 98 properties were sold for a total volume of $44.1 million, down from 249 properties sold last weekend.

Adelaide achieved a clearance rate of 59.1 per cent, down markedly from the 52 week high of 100 per cent recorded a few weeks ago.

Brisbane was the notable exception with clearance rates rising from 46.3 per cent the weekend prior to 46.9 per cent.

In total, 15 properties were sold for $7.5 million.

Auction clearance rates slide
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