Ensure you never miss an issue of the
real estate business bulletin
Auction rates up almost 20pc from last year

Auction rates up almost 20pc from last year

by Steven Cross 1 comments

Residential auction clearance rates remained relatively high over the weekend, according to Australian Property Monitors (APM).

Sydney’s clearance rate reached 82.7 per cent, up 1.0 per cent from the week before and almost 20 per cent higher than the same time last year when the clearance rate was just 64.5 per cent.

Auction numbers in the NSW capital were slightly down on last week, from 780 to 666.

While the median selling price for Sydney houses remained unchanged, more affordable unit stock was available this weekend, with the median selling price dropping almost $40,000 from $719,000 to $681,005.

 Melbourne also saw another bumper weekend with 1,102 properties listed for auction.

The Victorian capital’s clearance rate was slightly up from 75.9 per cent to 76.1 per cent for a median selling price of $810,000 for houses and $550,000 for units.

Auction rates up almost 20pc from last year
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?