Ensure you never miss an issue of the
real estate business bulletin
Auction activity picks up

Auction activity picks up

by Reporter 0 comments

Staff Reporter

Auction clearance rates climbed slightly higher in Sydney and Melbourne this weekend.

In Sydney, 63.3 per cent of properties cleared – up from the 61.5 per cent recorded this time last week.

The capital city also boasted the most expensive property sold at the weekend – a $2.78 million seven bedroom house in Strathfield.

The story was much the same in Melbourne, where 65.2 per cent of properties cleared – up from 61.3 per cent last weekend.

The Real Estate Institute of Victoria chief executive Enzo Raimondo said the results, while solid, were even better than they appeared given the fact that more than 700 properties were listed for sale at the weekend – significantly higher than the 375 listed last weekend.

“The next three weekends are big ones for the local auction market, with just over 2,500 homes on offer. This is around 600 more than this time last year,” Mr Raimondo said.


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; }
Auction activity picks up
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?