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Auction Clearance Rates 2nd February 2013
By Reporter
08 February 2013
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1 minute read
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Sydney and Melbourne clearance rates were both over 70 per cent on Saturday, according to data from Australian Property Monitors (APM) suggesting a positive beginning to 2013.
According to APM, both Sydney and Melbourne saw auction clearance rates at more than per cent (at 71.4 per cent and 75 per cent respectively), compared to 65.3 per cent in Sydney and 54.2 per cent in Melbourne in the same week last year.
Brisbane recorded a clearance rate of 25 per cent.
The auction median in Sydney was at $521,000 for houses while in Melbourne it was at $480,000 for houses.
For detailed APM house price reports, visit www.homepriceguide.com.au
RELATED TERMS
Auction
An auction is a public event for the sale of assets and property to the highest bidder among a group of buyers.
Rates
Rates refer to a fixed price or an amount charged by sellers or providers for their goods and services.
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