Clearance rate lowest for the year, Sydney
 
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Clearance rate lowest for the year, Sydney

By webmaster

Sydney’s auction clearance rate dropped to its lowest this year, according to Australian Property Monitors.

The clearance rate was reported at 50.5 per cent over the weekend, the lowest recorded in 2011, despite last week’s interest rate cut.

There were 437 reported auctions, of which 66 withdrew. The initial listing of 635 properties was higher than the same weekend in 2010.

Property prices ranged from $210,500 (CarramarCarramar, WA Carramar, NSW) to $2.5 million (Blakehurst).

The Real Estate Institute of Victoria reported that fifty-five per cent of properties for auction cleared in Melbourne.

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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.
MANGERTON 44.65%
3.
MOAMA 43.59%
4.
NORTH NARRABEEN 42.08%
5.
WAUCHOPE 40.74%
Clearance rate lowest for the year, Sydney
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