The auctions results in major capital cities continue to delight. Sydney recorded a clearance rate of 75% and Melbourne wasn’t too bad either on 65.1%.
“It’s actually been the strongest start we’ve had to a season since 2010,” senior economist at Australian Property Monitors, Andrew Wilson, said.
“We’re also seeing a consistency in terms of the results over the last five weeks.”
The total value sold in the four cities of Sydney, Melbourne, Adelaide and Brisbane on the weekend at auction was $323.2 million. Sydney continues to be the most expensive city, where a four bedroom house in Vaucluse sold for $3.35 million. The most expensive house in Melbourne was in St Kilda, where a four bedroom house sold for $2.28 million.