Ensure you never miss an issue of the
real estate business bulletin
Clearance rates dip in major cities

Clearance rates dip in major cities

by Reporter 0 comments

Weekend auction clearances dropped slightly in Sydney and Melbourne over the weekend, with both cities achieving less than 80 per cent, according to Australian Property Monitors.

In Melbourne, 183 of the 239 properties up for auction were sold for a clearance rate of 75.3 per cent – down from the 79.3 per cent recorded last weekend.

In Sydney, $98.6 million in property was sold for a clearance rate of 62.2 per cent. Of the 206 properties listed for auction 145 were sold.

A four bedroom house in Castlecrag registered the highest sales price of $1.84 million; while a two bedroom unit in Warwick Farm was cheapest at $151,000.

While Sydney’s 62.2 per cent clearance rate was significantly higher than the 49.2 per cent recorded this time last year, it was still a fall from the 65.0 per cent recorded last weekend.

Adelaide and Brisbane achieved similar clearance rates over the weekend, achieving 53.1 per cent and 50.0 per cent respectively.

In Adelaide, 17 of the 30 properties listed for auction were sold for a combined total of $9.6 million, while 15 of the 29 properties listed in Brisbane were sold for $9.0 million.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Clearance rates dip in major cities
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?