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Auction Activity Stalls At Weekend - November 2010
By webmaster
01 November 2010
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1 minute read
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Strong auction activity stalled over the weekend, with Brisbane, Adelaide and Melbourne all recording a drop in clearance rates.
According to the latest data from Australian Property Monitors, just 17.1 per cent of properties cleared over the weekend in Brisbane – down from the 31.4 per cent achieved last weekend.
In Adelaide, the story was much the same with the clearance rate dropping to 50 per cent from 60.5 per cent the weekend prior.
Sydney was the only city to record a slight improvement in auction clearance activity, with the capital achieving a clearance rate of 56.3 per cent.
The most expensive property sold in Sydney over the weekend was a four bedroom house in Balmain for $3.1 million. The cheapest property sold was a $135,000 one bedroom unit in Rosehill.
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.
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