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Buyers reject weekend auctions

By webmaster 28 June 2011 | 1 minute read

Home buyer confidence remains low in Brisbane, with no properties from the 34 listed clearing at auction over the weekend.

Adelaide's performance was also slow, with only 25.9 per cent of listings clearing at auction, a far cry from the 40.7 per cent that cleared last weekend.

Sydney and Melbourne remain the nation’s standout cities, with the weekend auction results improving by 11.4 per cent and 3 per cent respectively.

However, Sydney’s housing shortage appears to be taking its toll on the market with only 451 properties listed for auction over the weekend – down 15.1 per cent on the same time last year.

Sydney was home to both the most expensive and most affordable properties sold over the weekend, with a five bedroom house in Mossman selling for $3.2 million and a 2 bedroom unit at The Entrance selling for $221,000.

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Buyers reject weekend auctions
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