Another huge weekend of auctions across Sydney & Melbourne

Another weekend of exceptionally large stock numbers for NSW and VIC marketplaces. According to Australian Property Monitors (APM), Sydney recorded another clearance rate above 80 per cent despite hosting the highest number of auctions ever conducted on a Saturday.

This now takes Sydney auction clearance rates above 80% for the 19th week out of 21. 891 properties was the total number of recorded for auction in Sydney on Saturday and brought the total number for November to an enormous 3,953. This is the highest monthly number of listings for a capital city ever recorded by APM and is a representation of the Sydney marketplace at the moment.

Melbourne markets are still tracking steadily despite an influx of pre-Christmas listing which have hit the market. APM recorded an auction clearance rate of 74.5%, up 4.2% from last week’s 70.3%.

Melbourne too reported a near-record volume of 1,345 auctions over the weekend and a review of the spring  market over the past 5 years, shows that this year has produced the highest levels of supply and the second highest clearance rate. (RP Data Victoria housing market specialist Robert Larocca)

Auction Results:

Sydney: 80.4% (APM)
Melbourne: 74.5% (APM)
Brisbane: 57% (APM)
Adelaide: 100% (APM)
Canberra: 50% (Canberra Times)

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