news

Auctions fail to excite buyers

By webmaster

The long weekend did little to stimulate buyer activity in Sydney, with just 56.9 per cent of properties clearing at auction, according to Australian Property Monitors

The most expensive property to go under the hammer in the capital city was a $1.7 million, three bedroom house in Malabar, while the most affordable property sold was a studio in Darlinghurst, which went for $300,000.

The story in Melbourne was much the same with 44.4 per cent of properties clearing at auction.

This is a far cry from the 68.5 per cent achieved this time last year.

Even more disappointing was the number of properties listed for auction.

According to the Real Estate Institute of Victoria, just 47 properties were listed for auction, in comparison to the 696 properties listed this time last year.

The lack of auction activity in Melbourne did not come as a surprise given that it was the AFL grand final.

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%
Auctions fail to excite buyers
SPI logo