Auctions on the rebound: Pete Wargent

Pete WargentOctober 11, 20150 min read

CoreLogic-RP Data reported a rebound in preliminary auction clearance clearance rates, with increases in Sydney (to 72.8%), Melbourne (74.1%), and Brisbane (59.4 %).

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The trend in Brisbane improved slightly from 59.1% last week and 48.8% one year ago.

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Sydney's preliminary clearance rate of 72.8% from an elevated number of 1,141 auctions remained strong, but the market is clearly now a two-speed affair with the western suburbs, north west and south west all having slowed in recent weeks.
The northern beaches recorded the strongest clearance rate this weekend (88%), with the eastern suburbs (85.5%) and city & inner south (81.9%) all recording strong results.
The eastern suburbs have proven to be particularly strong performers of late.
Most properties with a Bondi tagline continue to sell well, while Bronte, Clovelly, Coogee, Darling Point, Maroubra etc. also remain rock solid...

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The real blockbuster sales this weekend, however, were seen on the lower north shore, specifically in Chatswood, with the previous suburb record being swept away...twice.

PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.

His latest book is Four Green Houses and a Red Hotel.


Pete Wargent

Pete Wargent is the co-founder of, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.
Property market
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