news

Auction clearance rates above 50% in Melb, Syd

By webmaster

Auction clearance rates in Sydney and Melbourne reached 55 per cent on Saturday, according to data from Australian Property Monitors (APM).

Sydney recorded a 56.7 per cent clearance rate based on 284 auctions, with 34 of these auctions withdrawn. This was well up on the 50 per cent clearance rate recorded on June 9.

According to data from the Real Estate Institute of NSW (REINSW), auction clearance rates for the week to Saturday 16 June hit 63 per cent based on 490 auctions.

“[Last] week has seen a small spike in auction activity, with some vendors electing to avoid the Queen’s Birthday long weekend,” CEO of REINSW, Tim McKibbin, said.

Melbourne’s clearance rate touched 55.6 per cent based on 76 properties, according to APM. Based on Real Estate Institute of Victoria (REIV) data, however, the clearance rate hit 57 per cent on Saturday, based on 553 auctions, as reported on propertydata.com.au.

“The auction market continues to reflect the conservative position of buyers and sellers. Next weekend the REIV expects around 610 auctions,” said Enzo Raimondo, REIV’s CEO.

In Adelaide, APM recorded an auction clearance rate of 42.9 per cent based on 14 auctions. While propertydata.com.au recorded a similar clearance rate for South Australia (41 per cent) for last week, this figure was based on 42 auctions.

In Brisbane, APM said the clearance rate for Saturday was 17.4 per cent based on 14 reported auctions.

Auction clearance rates above 50% in Melb, Syd
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%