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Sydney and Melbourne record strong results

24 August 2009 Reporter

Sydney and Melbourne’s property markets continue to show strong signs of recovery, with both capital cities achieving clearance rates above 70 per cent.

According to Australian Property Monitors, in Melbourne 188 properties were sold over the weekend for a total of $83.2 million – a healthy clearance rate of 75.5 per cent.

Sydney saw over $110 million worth of property go under the hammer for a clearance rate of 73.1 per cent.

112 properties were sold, with a Paddington house topping the list in terms of sales price at $ 4.2 million; a Wiley Park unit the cheapest at $197,000.

The clearance rate in Adelaide was a more subdued 53.8 per cent down from 65.2 per cent the weekend prior with 14 properties sold.

Brisbane’s clearance rate also fell from 46.2 per cent last weekend to 38.9 per cent this weekend.

Just 14 properties were sold for a total of $5.4 million.

Sydney and Melbourne record strong results
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