Auction numbers decline over weekend

Auction numbers decline over weekend

08 August 2011 by Staff Reporter 0 comments

Staff Reporter

The number of auctions declined in most major capitals on the weekend, and clearance rates remained flat, Australian Property Monitors reported today.

In Melbourne, 229 properties were listed for auction over the weekend – down 29.9 per cent when compared to the previous weekend.

The story was much the same in Sydney, with the number of properties listed for auction falling 31.1 per cent to 199, down from last weekend’s 315 listings.

Clearance rates also remained flat.

In Sydney and Melbourne, clearance rates continued to struggle over the weekend with only 56.2 per cent and 58.1 per cent of properties selling, respectively.

In Brisbane, only 21 per cent of properties sold, or three of 13. Adelaide’s results were even worse, with only three of 16, or 17 per cent, of reported auctions selling.

Staff Reporter

The number of auctions declined in most major capitals on the weekend, and clearance rates remained flat, Australian Property Monitors reported today.

In Melbourne, 229 properties were listed for auction over the weekend – down 29.9 per cent when compared to the previous weekend.

The story was much the same in Sydney, with the number of properties listed for auction falling 31.1 per cent to 199, down from last weekend’s 315 listings.

Clearance rates also remained flat.

In Sydney and Melbourne, clearance rates continued to struggle over the weekend with only 56.2 per cent and 58.1 per cent of properties selling, respectively.

In Brisbane, only 21 per cent of properties sold, or three of 13. Adelaide’s results were even worse, with only three of 16, or 17 per cent, of reported auctions selling.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?