Sydney auction clearance rates continue to improve

Sydney and Melbourne continue their strong property run over the weekend, with both cities recording auction clearance rates above 75%.

There 453 residential properties listed for auction in Sydney last weekend, with 75% selling on the day. These results are up from last week when 65% of 381 Sydney properties sold at auction and 67% of 233 properties sold at auction the week before last.

In Melbourne, 77% of 842 homes sold over the weekend.

In Adelaide, 61% of 48 properties sold at auction, while Brisbane’s auction clearance rate dipped to 23% of 55 properties.