The numbers were a little weaker on the weekend, particularly in NSW where school holidays started for many children, but the underlying strength is still visible and the data is still stronger than it was this time last year.
Adelaide had a bumper weak with a clearance rate of over 80% but that is coming from a very small sample size. Sydney had just 18 properties withdrawn from market, compared to 37 last week, which indicates renewed confidence in auctions as well, of course, as the property market.
Perhaps because everyone was in the holiday spirit, and momentarily distracted by The Wanderers hopes on Sunday, Melbourne beat Sydney this week in the race for the most expensive property sold at auction. In Melbourne, a three-bedroom house in Albert Park sold for $3.97 million where as the most expensive property sold in Sydney was not in a luxury suburb but the inner west area of Burwood, where a five-bedroom house was auctioned for $2.35 million.
The most affordable property sold at auction on the weekend was a two-bedroom unit sold in Eagleby – a suburb of Logan, 25 minutes drive south east of Brisbane. It went for just $127,500.
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