City auctions still weak

Auction clearance rates remain low in Sydney with just 44% of listed properties selling on Saturday. 421 properties were listed for auction in Sydney on Saturday the 8th November, with 149 selling on the day, well down on the results from the same weekend last year and very similar to last week’s results.

Melbourne auction results were also well down on last year’s results with 48% of 626 properties selling on the day, down from 75% of 890 properties.

Just five of twenty five properties sold at auction in Adelaide on Saturday, while just 23% of 81 properties sold in Brisbane auctions this weekend.