Sydney and Melbourne continue to outshine other states when it comes to auction clearance rates. Both cities cleared over 70% of their listings on the weekend; as always Brisbane’s clearance rate is lower; but there’s more to Brisbane’s market than the clearance rates. Here’s a snapshot from Saturday the 3rd of May.
The media has Sydney going through a boom, and the clearance rates from Saturday reconfirm this, but this month compared to last is down a whisker from 83% to 77%. Still healthy, but are we near the end of Sydney’s run?
|No. Reported Auctions||406|
Melbourne interestingly had less listings to this time last month [down by 332 properties] but a simular clearance rate.
|No. Reported Auctions||527|
Brisbane is not known for auctions, they prefer the private treaty method, so these figures don’t tell you what is really going on there. Call any buyers agent or estate agent in the area and they’ll tell you the market is very active with many properties not lasting two weeks on the market. So seeing a 35% clearance rate against 61 properties, I’d read that with a grain of salt.
|No. Reported Auctions||61|