Weekend auction results back to full swing in Sydney, Melbourne: Andrew Wilson

Weekend auction results back to full swing in Sydney, Melbourne: Andrew Wilson
Weekend auction results back to full swing in Sydney, Melbourne: Andrew Wilson

Sydney's auction market recorded boom-time results over the weekend according to Domain's Dr Andrew Wilson.

He said Sydney recorded a strong clearance rate of 80.3 percent over the last weekend in April, significantly higher than the 73.7 percent recorded over the same weekend last year.

"Sydney has now recorded clearance rates above 80 percent on nine of the 13 weekends since February, with Easter and school holidays attributed to outlier lower weekends. 

"The booming northern beaches recorded the highest regional clearance rate at the weekend with another remarkable 93.3 percent result.

"Next highest was Canterbury Bankstown at 87.8 percent followed by the south with 87.1 percent, the north-west with 82.6 percent, the inner-west and the lower north each with 79.5 percent.

"The city and east regions both recorded 78.4 percent followed by the south-west with 76.2 percent, the upper north shore and the west each with 75 percent and the central coast with a clearance rate of 50 percent.

"Melbourne’s hot property market recorded a strong result for sellers at the weekend, refocusing after the lengthy holiday breaks of the past month.

"Saturday’s clearance rate of 81.7 percent was the second-highest recorded for the year so far, higher than the previous weekend’s 79.5 percent and well ahead of the 75 percent recorded over the same weekend last year.

"In February Melbourne recorded a whopping clearance rate of 82.7 percent, which is yet to be topped. Since then auction clearance rates have averaged 79.9 per cent, providing sellers with plenty of confidence."

 

Tags: 
Auctions Clearance Rates

Comments

Be the first one to comment on this article
What would you like to say about this project?