Home Mortgage News Rising auction clearance rates attract vendors and sellers alike

Rising auction clearance rates attract vendors and sellers alike

Published on 30 Jul, 2009

The number of properties listed for auction rose significantly during the week ending 26 July amid signs of a recovery in the sector a new data showed.

According to rpdata.com, Sydney recorded a total of 354 properties listed for auction this week - a 29% increase from a week ago. Out of this, 173 properties were sold during auction, equating to a 69.2% clearance rate.

Melbourne saw a 17% increase to 458 properties listed for auction. Eager buyers snapped up 290 properties or 83.8% of the total offering.

Adelaide also saw a dramatic improvement in clearance rate at 78% or 25 out of 48 properties were sold during auction in the same period.

	Clearance rates for week ending 26 July
Sydney	69.20%
Melbourne	83.80%
Brisbane	53.20%
Adelaide	78.10%
Perth	27.30%
Canberra	71.40%
Tasmania	16.70%

Data provided by RP Data

Collections: Mortgage News

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