Auction clearance rates tick upwards

By webmaster 23 May 2011 | 1 minute read

Auction activity picked up slightly at the weekend led by Sydney where the clearance rate topped 60 per cent, according to Australian Property Monitors.

>In the New South Wales capital, 61.1 per cent of properties listed for auction cleared – marginally better than the 57.6 per cent achieved last weekend.

The most expensive property sold at the weekend was a five bedroom house in Artarmon, which went under the hammer for $2.6 million. The cheapest property to sell was a three bedroom unit in Harris Park, which sold for $330,000.

In Melbourne just under 60 per cent of the properties listed for auction cleared – 59.1 per cent – slightly higher than the 54.5 per cent recorded last week.

Auction clearance rates tick upwards
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