Auctions kick off to weak start
 
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Auctions kick off to weak start

By webmaster

Economic uncertainty brought on by the recent natural disasters has impacted home buyer confidence.

Just 48.2 per cent of properties cleared at auction in Sydney this weekend, significantly lower than the 68.2 per cent achieved this time last year.

The most expensive property sold at the weekend was a three bedroom house in PunchbowlPunchbowl, NSW Punchbowl, NSW, which went under the hammer for $1.4million; the cheapest was a $151,000, two bedroom unit in CampbelltownCampbelltown, NSW Campbelltown, SA.

And the story was much the same in both Melbourne and Queensland, according to Australian Property Monitors.

In Melbourne, just 61.6 per cent of properties cleared – down from the 75.0 per cent recorded this time last year.

Meanwhile Brisbane achieved a clearance rate of just 23.0 per cent.

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BERKELEY VALE 46.03%
2.
EDGECLIFF 45.06%
3.
PAMBULA 43%
4.
EAST LISMORE 41.38%
5.
SOLDIERS POINT 37.89%
Auctions kick off to weak start
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