Sydney at 44% in updated weekend auction clearance rates

Sydney at 44% in updated weekend auction clearance rates
Sydney at 44% in updated weekend auction clearance rates

The combined national capital cities returned a final auction clearance rate of just 46 percent over the last week.

It was weighed down by a particularly weak performance from Sydney of 44 percent.

The initial clearance rate advisory from CoreLogic last weekend was 52 percent.

It marked the fourth consecutive week where the combined capital city auction clearance rate fell below 50 per cent.

In Sydney, the final auction clearance rate fell slightly to 44.6 per cent last week, down from 45.1 per cent the previous week.

Sydney at 44% in updated weekend auction clearance rates

There were 675 Sydney auctions held last week, increasing from the 647 the previous week, however lower than the 823 last year when a higher 61.3 per cent sold.

Geelong was the best performing non-capital city region last week, with 48.2 per cent of the 34 auctions successful. However, the Hunter region was host to the highest number of auctions (59).

There were 2,139 total homes taken to auction, having increased on the 1,851 auctions held over the week prior when a higher 47 per cent cleared. This week last year, 2,519 homes were taken to auction across the combined capitals returning a final auction clearance rate of 64.7 per cent.

Sydney at 44% in updated weekend auction clearance rates

The region with the lowest clearance rate was also in Sydney, it was Sutherland.

Sutherland had a clearance rate of just 29.2 percent on 24 homes.

Indicative of Sutherland's low clearance rate is 222 Ellesmere Road, Gymea Bay  (pictured above).

With an asking price of $1,250,000 the three bedroom one bathroom home was passed in.

The home is set on 556 sqm and features a one car garage.

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Sydney Clearance Rate

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