Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Property sales to slide as Christmas nears

By Staff Reporter
16 November 2009 | 1 minute read

Lacklustre auction clearance results in some of the nation’s capital cities suggest the property market may be in for subdued activity in the weeks leading up to Christmas.

Advertisement
Advertisement

In Brisbane just five of the 60 properties listed for auction were sold for an auction clearance rate of 18.5 per cent.

Adelaide faired a little better, selling 12 properties and achieving a 50 per cent clearance rate.

Once again, Sydney and Melbourne proved to be the nation’s biggest achievers.

Melbourne achieved a clearance rate of 70.9 per cent.

More than 742 properties were listed for sale, slightly less than the 766 listed this time last year.

NSW’s capital city achieved a clearance rate of 64.2 per cent, slightly up on last weekend’s 63.6 per cent, but down on its peak of 80 per cent two months ago.

A three bedroom, $3.85 million house in Paddington was the most expensive piece of real estate sold over the weekend, while a parcel of land along the Great Western Highway was the cheapest at $110,000.

Property sales to slide as Christmas nears
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Boomerang Beach
66.67%
Gnarabup
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.