Melbourne has reported better auction results than Sydney for the seventh time in eight weeks.
The city posted a clearance rate of 73 per cent last weekend, compared with a clearance rate of 73.8 per cent on the corresponding weekend last year, according to APM PriceFinder.
Sales climbed 2.5 per cent to 710, but the median price for house sales slipped 0.2 per cent to $860,000 and the median price for unit sales fell 3.1 per cent to $547,000.
Sydney’s clearance rate fell from 76.2 per cent last year to 65.1 per cent last weekend.
Sales slumped 24.5 per cent to 383, although the median house price jumped 13.1 per cent to $1.28 million and the median unit price rose 6.6 per cent to $763,000.
Across Australia, the clearance rate fell from 71.7 per cent to 69.8 per cent.
Sales decreased 12 per cent to 1,135, with house prices up 6.8 per cent to $972,000 and unit prices down 0.8 per cent to $655,000.
Buxton had Melbourne’s highest sale, fetching $3.9 million for a four-bedroom Brighton house.
In Canberra, Luton Properties sold a three-bedroom Deakin house for $1.3 million.
Harris Real Estate Glenelg achieved Adelaide’s best result, selling a four-bedroom house for $1.29 million.
Brisbane’s best result was a four-bedroom Sunnybank Hills sold for $1.24 million.house that LJ Hooker