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Auction clearance rate report - steady as she goes

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Published on: Monday, August 24, 2015

The auction clearance rate across the capital cities remained stable at 74.1% this week, from 74.6% last week. The number of auctions increased from 2,118 to 2,192 on a week-on-week basis.

Research house CoreLogic RP Data says this year’s preliminary clearance rate continues to trend higher than one year ago when 69.5% of all reported auctions were successful.

Sydney

Sydney’s preliminary auction clearance rate was 79.9% and higher than last week’s final clearance rate of 77.3%. This time last year the clearance rate was 76.1%.

Across Sydney’s sub-regions the Central Coast and City and Inner South were the best performers, with clearance rates of 90.9% and 89.2% respectively.


Australian Property Monitors (APM) reported a median sale price of $1.145million across 447 properties sold at auction on Saturday, August 22.

This 5-bedroom home in Burwood went for $2.93million on the weekend.



Source: Domain.com

Melbourne

Australia’s other market heavyweight – Melbourne – reported a clearance rate of 73%, lower than the 76.5% reported the previous week, but higher than last year’s result of 70.7%.

This week’s result was also the lowest result for the city since mid-February.

All of Melbourne’s sub-regions delivered a clearance rate above 70% this week, with the exception of Inner Melbourne, where 69.5% of all reported auctions were successful.


APM reported a median sale price of $787,000 across 512 properties sold at auction on Saturday, August 22.

This modern three-bedroom home in Brighton went for $3.025million on the weekend.

Source: Domain.com


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