Call us on 1300 794 893

Business News

Auction activity still strong

| More

Published on: Tuesday, October 13, 2015

This week, the national clearance rate for the capital cities picked up after the October long weekend to 72.0%, from 68.2%. That compared to 67.8% at the same time last year.

Weekly clearance rate, combined capital cities

Auction volumes were also on the up, with 2,903 across the combined capital cities compared to just 865 last week and 2,408 this time last year. 

Capital city auctions statistics (preliminary)

Sydney

In Sydney, the clearance rate was 72.8% across 773 captured results, higher than the previous week’s rate of 69.9%. This time last year the clearance rate was 71.9%. 

The strongest areas in Sydney this week were the Northern Beaches, Eastern Suburbs, and City and Inner South, with clearance rates of 88%, 85.5% and 81.9% respectively. 

Australian Property Monitors (APM) reports that across 533 sold auctions on Saturday October 10, the median sale price was $1.15 million.

APM also reports that one of the most expensive properties sold at auction during the week was a 6-bedroom property in Manly, which sold for $4.62million.

Melbourne

In Melbourne, there was a clearance rate of 74.1% across 1,169 reported results.

That compared to 73.1% the previous week and 70% at the same time last year.

RP Data reports that the busiest sub region for auctions was the Inner region with a preliminary clearance rate of 75.8% across 228 reported results.

The best performing clearance rate was in the South East at 79.1% across 148 auction results.

APM says the median sale price across 737 sold properties on Saturday 10 October was $765,000.

One of the more expensive properties to be sold at auction was a 4-bedroom property in Hawthorn which sold for $3.56 million.

CLICK HERE TO RETURN TO THE SPRING PROPERTY SPECIAL


New on Switzer

blog comments powered by Disqus

  THE SWITZER FEED
Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300