Impressive auction results in Sydney and Melbourne
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Impressive auction results in Sydney and Melbourne

By Staff Reporter

Auctions in Sydney experienced another bumper weekend, while Melbourne also saw strong clearance rates.

According to preliminary data from Australian Property Monitors, 81.5 per cent of auctions in Sydney last weekend ended in a sale.

By comparison, on the same weekend in 2013, only 66.5 per cent of auctioned properties were sold.

Home sold under the hammer for a median value of $1,025,550 while units went for a median of $729,000.

Nonetheless, the number of auctions in the city was slightly lower this weekend than previous weeks, with only 352 houses offered for sale.

Melbourne, on the other hand, saw 554 auctions take place across the city, of which 73.1 per cent resulted in a sale.

Melbourne’s median auction prices were significantly lower than Sydney’s, at $760,000 for houses and $528,000 for units.

Auctions appeared to be a less popular option in Brisbane and Adelaide, with only 29 reported auctions in Adelaide and 11 in Brisbane this weekend.

These results are a marked drop from last year, where Adelaide had 67 auctions take place and Brisbane had 89.

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
SOLDIERS POINT 48.92%
2.
BLUE BAY 43.96%
3.
BERKELEY VALE 42.74%
4.
LEMON TREE PASSAGE 42.55%
5.
NORTH NARRABEEN 40.19%
Impressive auction results in Sydney and Melbourne
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