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Auction clearance rates slide

By Staff Reporter
27 July 2009 | 1 minute read

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

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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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