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Auction Clearances Better Than Last Year

by Marquette Turner

in Real Estate Radar

The first auctions of the year last weekend showed an improvement compared with this time last year.

The clearance rate for properties rose by almost 10 per cent in Sydney to 56 per cent while the number of houses listed also increased by 10 per cent compared with this time last year.

Of the 77 properties listed in Sydney, 59 were auctioned, with 36 sold, seven more than at the same time in 2007.

Melbourne had a slower start with only 29 properties listed for auction compared with 55 at this time last year. The clearance rate rose by 1 per cent to 50 per cent and out of 27 properties reported as auctioned, 14 were sold compared with 24 out of 49 properties reported as auctioned this time last year.

Whilst it is early days yet, the 2008 story will indeed be an interesting one to follow. Marquette Turner will of course keep you on track.

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