60 percent Melbourne clearance rate from 103 auctions

Staff reporterAugust 16, 20200 min read

There was a 60 percent clearance rate from the 103 reported weekend auction results in Melbourne.

With many homes selling prior and 39 properties withdrawn, agents in Melbourne had 124 scheduled auctions.

Auctions and inspections can be held only online.

There were 545 auctions on the same August weekend last year, according to Domain.

More than 520 properties were scheduled for auction in Sydney on Saturday, with agents securing a preliminary clearance rate of 65.9 per cent from 330 reported results.

There were 83 properties withdrawn from auction.

Pre-auction Friday night buyer competition saw a northern beaches property sell at $7.05 million.

It was a five-bedroom home at 3 Wood Street. 

There were 1,042 homes up for auction across the combined capital cities this week, down from 1,150 over the previous week and 1,228 this time last year.

Preliminary results show that of the 810 results collected so far, 64.3 per cent have recorded a successful result, down slightly from last week’s preliminary clearance rate of 65.9 per cent, which revised down to 58.4 per cent on final numbers. This time last year, the combined capital cities recorded a final clearance rate of 73.0 per cent.

The number of auctions held across Melbourne was averaging around 530 each week prior to the implementation of new restrictions. 

There were 668 homes scheduled for auction in Sydney this week, up from 640 over the previous week and 446 this time last year. Sydney hasn’t recorded this many auctions over a week since the first week of April.

Preliminary results show the city recorded a clearance rate of 67.8 per cent this week, slightly higher than last week’s preliminary result of 65.8 per cent, which later revised down to 58.8 per cent. This time last year, a final clearance rate of 76.2 per cent was recorded across the city.

Across the smaller cities, Canberra came in with the highest preliminary clearance rate over the week (75.9 per cent), followed by Adelaide (60.0 per cent).

Staff reporter

Residential Auctions
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