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Auction clearance rates fall

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Published on: Tuesday, November 24, 2015

This week, the preliminary national clearance rate was 60.8%, down from 62.3% last week. 

Weekly clearance rate, combined capital cities

The number of auctions was also lower at 3,087 compared to 3,274 last week.

Over the same week last year, the clearance rate was higher at 65.7% across 3,315 auctions.

Capital city auction statistics (preliminary)

Sydney

Sydney’s preliminary clearance rate was 59.3% this week, and according to research house CoreLogic RP Data, marks the third week in a row of levels below 60%.

These results are steeply down on the same week last year, when Sydney’s clearance rate was 71.8%. Auction volumes were also down to 1,080 compared to last year’s 1,337.

The best performing Sydney sub-region was the Eastern Suburbs, with a clearance rate of 82.6% over 69 reported results. 

According to Australian Property Monitors (APM), the median sale price over the 371 properties sold at auction on Saturday, 21 November was $1,131 million. 

One of the most expensive sales over the week was this 6-bedroom, 4-bathroom property in Tennyson Point. It sold for $5.905 million.

Melbourne

Melbourne’s preliminary clearance rate was 64.7% compared to 69.8% last week and 66.1% last year.

Auction volumes were down to 1,477 compared to 1,567 last week. However that result is higher than last year's 1,433.

The best performing Melbourne sub-region was the North East, with a clearance rate of 71.9% across 153 reported results.

APM says that for the 641 properties sold at auction on Saturday, 21 November, the median sale price was $770,000.

This 3-bedroom, 2-bathroom property in Brighton was one of the top sales at $3.925 million.


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