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Super Saturday Auction Results

It was another busy auction weekend in our 2 big capital cities. Sydney had its biggest auction day on record with around 900 auctions.

Australian Property Monitors’ preliminary clearance rate (on the auctions reported so far) was 80.4%.

The Melbourne property market had another huge auction day and APM reported a clearance rate of of 74.5%.

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In other words both cities have been on-trend and showing significant market depth, considering the level of stock available for sale at auction.

With a further two weekends with 800 plus auctions in both cities and a small number of auctions scheduled for the Saturday four days before Christmas, it will be interesting to see how the markets fare. With the strong buyer interest we’re experiencing, I can’t see any reason for these strong auction clearance rates to hold up.

Remember this time last year clearance rates were in the low 50% range and we were wishing for times like this.

Auction Results 30Nov

 

Auction Results 30Nov_2
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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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