Powered by MOMENTUM MEDIA

Auction clearances up as weather warms

By webmaster 06 September 2010 | 1 minute read

The spring buying season got off to a reasonable start, with almost 60 per cent of properties clearing in both Sydney and Melbourne.

According to data from Australian Property Monitors, 57.8 per cent of properties cleared in Sydney, while the clearance rate tipped 59 per cent in Melbourne.

In Sydney, the most expensive property sold over the weekend was a $2.5 million five-bedroom house in Darlinghurst; the least expensive was a two bedroom villa in Gosford, which went under the hammer for $205,000.

Sydney real estate Belle Property AnnandaleAnnandale, NSW Annandale, QLD sold all its properties through pre-auction bids, suggesting there is still plenty of potential home buyers in the market.

Belle agent Julie Hatch said while listings were slightly down on last year, she expected confidence to return with a federal election result.

Advertisement
Advertisement

“The attendance to open houses has dropped off a little, but the people coming through are serious buyers,” she said.

In Adelaide and Brisbane, auction clearance results were markedly up – suggesting the warmer weather had a positive effect on property buyers.

Adelaide cleared 73.9 per cent of properties – up from the 58.3 per cent recorded last week; while Brisbane cleared 33.3 per cent of properties – up from the 12.5 per cent achieved last weekend.

Auction clearances up as weather warms
default
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

From the web

Recommended by Spike Native Network

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.