Powered by MOMENTUM MEDIA
smart property investment logo

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.

Advertisement
Advertisement

RELATED TERMS

Auction

An auction is a public event for the sale of assets and property to the highest bidder among a group of buyers.

Rates

Rates refer to a fixed price or an amount charged by sellers or providers for their goods and services.



Auction clearance rates tick upwards
default
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.