Clearance rates record big jumps on previous year

Clearance rates record big jumps on previous year

Auction clearance rates
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A $6 million sale was the weekend’s standout auction result as the national clearance rate fell just short of 80 per cent.

Sydney posted an 83.3 per cent clearance rate at the weekend, compared to 72.3 per cent for the corresponding weekend last year, according to APM PriceFinder.

Property sales jumped 17.7 per cent to 498, with the median price for house sales up 26.4 per cent to $1.3 million and the median price for unit sales up 29.3 per cent to $776,000.

Melbourne also experienced a big jump in its clearance rate, from 71.1 per cent to 81.4 per cent.

Sales fell 4.8 per cent to 531, with house prices increasing 9.8 per cent to $850,000 and unit prices decreasing 4.6 per cent to $513,000.

The national clearance rate also recorded big gains, climbing from 66.8 per cent to 79.8 per cent year-on-year.

Sales rose 6.5 per cent to 1,110, with house prices up 16.9 per cent to $975,000 and unit prices up 8.3 per cent to $650,000.

The biggest auction result of the weekend occurred in the Sydney suburb of Mosman, where a five-bedroom house sold for $6 million.

Melbourne’s most expensive sale was a four-bedroom house in Armadale, which fetched $4.66 million.

In Canberra, a five-bedroom Campbell house sold for $1.46 million; and in Brisbane, a five-bedroom Windsor house sold for $1.34 million.

[Related: The previous weekend’s results]

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