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Brisbane clearance rate jumps 20pc

By Staff Reporter
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Auction clearance rates in Brisbane rose dramatically at the weekend, while Sydney, Adelaide and Melbourne put in good performances.

Brisbane recorded a clearance rate of 56.8 per cent, up from 36.6 per cent for the weekend previously, according to data from Australian Property Monitors (APM).

In comparison to the same weekend last year, the clearance rate improved by 27.1 per cent.

Clearance rates in Adelaide, meanwhile, are also on the rise - up to 55.3 per cent from 50 per cent last weekend.

However, both markets continue to lag behind New South Wales and Victoria.

Sydney experienced a 7.5 per cent improvement over the last week, with the rate rising to 83.2 per cent.

The weekend also brought good news for Melbourne with a rate of 76.9 per cent, up from 71 per cent the weekend before.

The most expensive property sold at the weekend was in Victoria at 11 Hall Street, Brighton.

The five-bedroom house went for $3,820,000.

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Highest annual price growth - click a suburb below to view full profile data:
1.
FAIRLIGHT 46.02%
2.
CASUARINA 44.36%
3.
THE ENTRANCE NORTH 41.09%
4.
ULTIMO 40.67%
5.
LAVENDER BAY 40.2%