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Auction results climb higher as spring season starts

07 September 2009 Reporter

The traditional spring auction season is off to a strong start with Sydney, Adelaide and Melbourne all achieving clearance rates over 70 per cent.

Figures from Australian Property Monitors show Sydney achieved a 70.1 per cent clearance rate over the weekend, continuing its pattern of strong results.

More than 110 properties went under the hammer this weekend for $102.6 million.

The most expensive property was a four bedroom offering with views of the Harbour in Cammeray, which sold for $2.26 million.

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The least expensive was a two-bedroom townhouse in Cabramatta, which sold for $225,000.

Melbourne also continued its run of high clearance rates, achieving 76.0 per cent over the weekend.

Just over 130 properties were sold for $57.7 million, the most expensive being a four-bedroom house in Camberwell which sold for $2.35 million.

Adelaide enjoyed a similar run, achieving a clearance rate of 73.7 per cent, markedly higher than last weekend’s 52.9 per cent clearance rate.

Brisbane was the lowest performing capital city this weekend, recording a clearance rate of 35.0 per cent, down from 46.2 per cent last weekend.

Auction results climb higher as spring season starts
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