Sydney reports over 80% clearance rates

Editorial director of Switzer
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My neighbour is selling their house at the moment and it was open for the first inspection on Saturday. After seeing the swarm of people who came through to inspect the place in the 20 or so minutes that the house was open, it’s easy to believe these surging auction clearance rates we’re seeing at the moment.

Sydney property continued to sell like hot cakes this weekend, with APM reporting another 80% plus clearance rate for the city, out of a solid 716 properties listed. Melbourne wasn’t far behind either, with 76.1%, but Brisbane continued to lag with just 13 of the 95 properties listed sold (32.5%).

Table 1 – Clearance Rates Weekend 12 October 2013

The NRL grand final last weekend saw a drop in the number of houses listed in Sydney, but the revised clearance rate was still strong at 79.3%. The clearance rate for Brisbane was revised up to 49% for last weekend, while Adelaide’s initial reading of 77.3% was taken down a disappointing 14% to just 63.3%.

Table 2 – Revised Clearance Rates Weekend 5 October 2013

This time last year, auction clearance rates across the board were still lacklustre at a combined 46.4%, according to APM.

Table 3 – Clearance Rates in 2012 – Weekend 13 Oct

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