Auctions stall at weekend

Auctions stall at weekend

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Strong auction activity stalled over the weekend, with Brisbane, Adelaide and Melbourne all recording a drop in clearance rates.

According to the latest data from Australian Property Monitors, just 17.1 per cent of properties cleared over the weekend in Brisbane - down from 31.4 per cent achieved last weekend.

In Adelaide, the story was much the same, with the clearance rate dropping to 50 per cent from 60.5 per cent last weekend.

Sydney was the only city to record a slight improvement in auction clearance activity, with the capital achieving a clearance rate of 56.3 per cent.

The most expensive property sold in Sydney over the weekend was a four bedroom house in Balmain for $3.1 million. The cheapest property sold was a $135,000 one bedroom unit in Rosehill.

 

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