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.

Latest


Must Read


PM Tech Growth Sales Marketing Industry

Our Events


New Broker Academy 2022

The Adviser’s New Broker Academy aims to equip prospective brokers with the knowledge, skills and mindset to succeed...

LEARN MORE
VIEW ALL
Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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.

Homebuyers out in force

By Staff Reporter
14 December 2009 | 1 minute read

Auctions have ended this year on a high note, following strong weekend clearances in Australia’s four largest auction markets.

Despite three interest rate hikes in as many months, bidders were out in force on what has traditionally been the largest auction day before Christmas.

Sydney achieved a clearance rate of 65 per cent, after more than 550 properties went under the hammer.

Advertisement
Advertisement

While the clearance rate was down on last weekend’s 65.8 per cent achievement, considerably more homes were sold.

A four bedroom unit on Bondi Beach was the most expensive property sold over the weekend, selling on Saturday for $8 million.

A three bedroom house in Watanobbi was the least expensive property sold for $180,500.

Auction capital Melbourne had a 74.3 per cent clearance rate, which was slightly down on the previous week’s 76 per cent, but like Sydney, the city experienced a spike is sales numbers.

According to Australian Property Monitors, Melbourne had 1030 scheduled auctions compared with 883 the previous Saturday.

Both Sydney and Melbourne have finished the year in a much better position than last year when clearance rates struggled to top 50 per cent.

Adelaide and Brisbane also managed to perform quite well over the weekend.

Although traditionally the quietest of the four auction markets, Adelaide and Brisbane both managed to record clearance rates of 50 per cent or above.

Adelaide’s clearance rate was 51.5 per cent, up from 44.4 per cent last weekend, while Brisbane achieved a clearance rate of 50.0 per cent, markedly higher than last week’s 35.3 per cent.

Homebuyers out in force
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
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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.