Sydney posts boom-time weekend clearance rate, Melbourne numbers high

Sydney posts boom-time weekend clearance rate, Melbourne numbers high
Sydney posts boom-time weekend clearance rate, Melbourne numbers high

Melbourne reported a clearance rate of 78.7 percent on Saturday, with Sydney posting a boom-time weekend clearance rate of 84.2 percent according to Domain's Dr Andrew Wilson.

He said about 470 homes were scheduled to go under the hammer in Melbourne over the weekend, similar to the 466 auctions conducted over the same weekend last year.

"Higher auction numbers also translated into a more representative spread of regional listings at the weekend, with a higher proportion of inner suburban, higher-priced homes going under the hammer. This trend will escalate over coming weekends," he said.

"Melbourne’s northern suburban region continued to record the highest weekend clearance rates, as it did for most of last year. 

"The north east was tops at 91.4 percent, followed by the north at 87.5 percent, the inner east at 86.4 percent, the west at 80.3 percent and the highest sales with 61, the outer east at 76.6 percent, the inner south at 76.4 percent, the south east at 72.4 percent and the inner city trailing again this weekend with 67.6 percent.

"About 540 homes were listed for auction in Sydney on Saturday, which was a record early-February offering.

"Inner suburban regions were again the top performers in Sydney at the weekend, which continued the consistent trend of most of the past year. 

"The top clearance rate was recorded by the lower north with a booming 94.6 percent, followed by the inner west with 93.3 percent and the most sales at 56.

"The city and east had a clearance rate of 88.1 percent, Canterbury Bankstown with 83.3 percent, the central coast with 82.4 percent, the upper north shore with 82 percent and the south west with 81.8 percent.

"The northern beaches had a clearance rate just under 80 percent at 79.5 percent, while the south and the north west each recorded a 78.3 percent clearance rate. The west trailed at 68.4 per cent and the Blue Mountains even less at 50 percent."

 

 

Tags: 
Auctions Residential Sales

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