Sydney and Melbourne continue to have good auction clearance rates; however both cities showed a significant decrease in the number of listed auctions. The percentage of properties sold under the hammer changed very little from last month, with Sydney clearing 5% less than last month and Melbourne going up by just 1%. Brisbane also offered fewer properties for sale under the hammer; only 87, down from 124 last month and their clearance rate also dropped from 52% down to 37%. Here’s a snapshot from Saturday 28th of June.
Sydney
| No. Listed Auctions | 596 |
| No. Reported Auctions | 435 |
| Sold | 351 |
| Withdrawn | 39 |
| % cleared | 74% |
| Total Sales | $310,109,800 |
| Median | $935,000 |
Melbourne
| No. Listed Auctions | 692 |
| No. Reported Auctions | 519 |
| Sold | 393 |
| Withdrawn | 8 |
| % cleared | 75% |
| Total Sales | $257,575,680 |
| Median | $670,000 |
Brisbane
| No. Listed Auctions | 87 |
| No. Reported Auctions | 64 |
| Sold | 27 |
| Withdrawn | 9 |
| % cleared | 37% |
| Total Sales | $13,751,000 |
| Median | $690,000 |
About the Author
Since 2008, David Thomas has built a business aimed at servicing the needs of property investors, owner occupiers and small business owners. David is recognised as one of the top 10 independent mortgage brokerages in the country, David and his team have settled almost billions of dollars worth of residential and investment loans over the last decade.
Known for his straightforward, relatable style, David believes by educating people about property funding; they fare better in the market. By sharing his expertise openly, some of the people he educates will likely become his clients. It's a win-win approach.
David Thomas is a credit representative (Representative Number 506153) of BLSSA Pty Ltd, ACN 117 651 760 (Australian Credit Licence 391237).