Little change for auction results

By webmaster 09 August 2010 | 1 minute read

The weekend’s auctions saw clearance rates remain in line with July levels with very little change recorded across the capital cities, according to data from Australian Property Monitors.

In Sydney, 349 properties were listed for auction, compared to 244 for the same Saturday last year. Of those properties, 62.5 per cent were sold, an improvement from the clearance rate of 55.5 per cent recorded last week, and just under the 67.5 per cent figure for the same day last year.

Melbourne also saw a raft of properties listed for auction, with 500 property listings, compared to 438 last year.

The clearance rate however was down year-on-year at 67.9 per cent, compared to 80.9, and up ever so slightly compared to 66.6 per cent the week before.

Meanwhile in Adelaide the clearance rate lifted to 53.3 per cent compared to 41.9 per cent the week prior and 37.5 per cent in 2009.

In Brisbane just 25 per cent of properties listed were sold, up from 23.3 per cent the week before but down from 36.9 per cent last year.



An auction is a public event for the sale of assets and property to the highest bidder among a group of buyers.

Little change for auction results
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