Clearance rate lowest for the year, Sydney
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Clearance rate lowest for the year, Sydney

By webmaster

Sydney’s auction clearance rate dropped to its lowest this year, according to Australian Property Monitors.

The clearance rate was reported at 50.5 per cent over the weekend, the lowest recorded in 2011, despite last week’s interest rate cut.

There were 437 reported auctions, of which 66 withdrew. The initial listing of 635 properties was higher than the same weekend in 2010.

Property prices ranged from $210,500 (CarramarCarramar, WA Carramar, NSW) to $2.5 million (Blakehurst).

The Real Estate Institute of Victoria reported that fifty-five per cent of properties for auction cleared in Melbourne.

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
MANGERTON 46.41%
2.
QUEANBEYAN EAST 46.15%
3.
SOLDIERS POINT 45.49%
4.
DARLINGTON 45.4%
5.
PADDINGTON 43.31%
Clearance rate lowest for the year, Sydney
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