Midyear state of affairs: A closer look at the country’s markets
With market conditions changing at varying degrees across the country, seven experts from Property Investment Profession...
Sydney and Melbourne clearance rates were both over 55 per cent on Saturday, according to data from Australian Property Monitors (APM).
According to APM, both Sydney and Melbourne saw auction clearance rates near sixty per cent (at 57.2 per cent and 59.1 per cent respectively), compared to 57.5 per cent in Sydney and 61.1 per cent in Melbourne the week prior.
Adelaide and Brisbane recorded a clearance rate of 38.5 per cent and 37.0 per cent respectively.
The auction median in Sydney was at $770,000 for houses. Units were seen at a median of $580,000. The median in Melbourne was $590,500 for houses, with a unit median of $428,000.
For detailed APM house price reports, visit www.homepriceguide.com.au
An auction is a public event for the sale of assets and property to the highest bidder among a group of buyers.
Rates refer to a fixed price or an amount charged by sellers or providers for their goods and services.