Sydney and Melbourne clearance rates down near 10 percent from last year

Sydney and Melbourne clearance rates down near 10 percent from last year
Sydney and Melbourne clearance rates down near 10 percent from last year

The Sydney and Melbourne clearance rates ran side by side at this weekend's auctions, as both came in at under the 70 percent success mark.

Melbourne cleared 69 percent of its stock, down three percent from last week, while Sydney scored one percent more than last week, taking their clearance rate to near 68 percent.

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Sydney and Melbourne clearance rates down near 10 percent from last year

The two major capital city clearance rates were nearly 10 percent down from the same weekend last year.

The national clearance rate was down seven percent from this time last year.

Tasmania secured a 100 percent clearance rate, selling all six of their dwellings.

Brisbane's clearance rate stayed well below 60 percent, while Perth could only secure a 36 percent clearance rate.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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