Auction Activity Stalls At Weekend - November 2010
Strong auction activity stalled over the weekend, with Brisbane, Adelaide and Melbourne all recording a drop in clearance rates.
According to the latest data from Australian Property Monitors, just 17.1 per cent of properties cleared over the weekend in Brisbane – down from the 31.4 per cent achieved last weekend.
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In Adelaide, the story was much the same with the clearance rate dropping to 50 per cent from 60.5 per cent the weekend prior.
Sydney was the only city to record a slight improvement in auction clearance activity, with the capital achieving a clearance rate of 56.3 per cent.
The most expensive property sold in Sydney over the weekend was a four bedroom house in Balmain for $3.1 million. The cheapest property sold was a $135,000 one bedroom unit in Rosehill.
