Finance advice

Solid auction clearance rates across capitals

By Phillip Tarrant

Auction clearance rates remained above the 50 per cent mark in Sydney and Melbourne on Saturday, according to data from Australian Property Monitors (APM) and the various state real estate institutes.

 Melbourne’s clearance rate edged above the 50 per cent mark based on 181 reported auctions, down from 55.6 per cent the week before, according to APM.

The Real Estate Institute of Victoria (REIV) reported a higher clearance rate of 56 per cent for the weekend, based on 544 reported auctions.

“Next weekend marks the end of the first half of the year and the year to date clearance rate is 61 per cent compared to 63 per cent this time last year, and 82 per cent in 2010,” said Enzo Raimondo, REIV CEO.

“Next weekend the REIV expects around 500 auctions.”

Sydney’s clearance rate remained at 56 per cent, the same as the previous Saturday, based on 241 reported auctions.

According to data from the Real Estate Institute of NSW (REINSW), auction clearance rates for the week to Saturday 23 June hit 60 per cent based on 459 auctions.

“Clearance rates in recent months have remained around the 60 per cent mark, with just one of the previous 12 weeks seeing a clearance rate below 59 per cent,” said Real Estate Institute of NSW CEO, Tim McKibbin.

“This is a modest improvement on the same time last year, where six weeks recorded clearance rates of 56 per cent or lower.”

In Adelaide, APM recorded an auction clearance rate of 37 per cent for Saturday, based on 25 reported auctions. Propertydata.com.au recorded a higher clearance rate for South Australia (47 per cent) for the week to Sunday June 24, based on 38 reported auctions.

In Brisbane, APM said the clearance rate for Saturday was 38.5 per cent based on 24 reported auctions.

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podcast

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With the softening market impacting property values in many parts of Australia, Sally Wood, Opteon state director for NSW, ACT and Qld joins us to discuss the importance of valuations in the current property market

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Joining host Phil Tarrant, Sally will draw on her 25 years of experience in valuation and discuss the processes involved in arriving at a value for a particular property. She will also share how that process differs between commercial and residential properties and the difficulties which regional property valuations can present.

Sally will unpack the importance and cost of regular valuations on your properties, discuss whether presentation and owner input can sway a valuation and share what you should look for when seeking a reputable property valuer.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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Gavin Kemp and his now-fiancé bought their first property together after only six months of dating. They weren’t even living together at the time. Now, two years on, the pair have bought five properties, sold two and have a solid plan in place for their ongoing property journey. 

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Gavin will share his thoughts on the current property market, reveal the people who he has leaned on throughout his property journey and discuss why his strategy employs a zero procrastination rule.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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A joint property portfolio before they were even living together

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