Auctions slide at Christmas

By webmaster 13 December 2010 | 1 minute read

Home buyers are not feeling the Christmas spirit, with auction clearance rates sliding yet again.

According to Australian Property Monitors, just 48 per cent of properties cleared in Sydney this weekend, down from the 61 per cent achieved this time last year.

It is the second weekend in a row that the auction clearance rate in Sydney has dropped below 50 per cent.

The story was much the same in Australia’s other capital cities with Adelaide clearing just 28 per cent of properties over the weekend.

In Brisbane just 6.3 per cent of properties cleared – well down from the 33.3 per cent achieved this time last year.

Of the 86 properties listed for auction in  Brisbane just one managed to sell under the hammer, according to the preliminary APM data.

Auctions slide at Christmas
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