Easter Weekend Auction Update

March 30, 2016/ Pricefinder / Auction Results

This weekend’s auction activity was understandably slow due to the Easter long weekend with a total of 92 properties listed in the major auction markets. This is an increase of 19 properties compared to the 2015 Easter weekend. Of these markets, Sydney represented the majority of listings with 49 properties compared with Melbourne’s 23. Interestingly Sydney reported an auction clearance rate of 71.1% continuing on from 71.2% for the previous week while Melbourne’s reported clearance rate of 62.5% was down from 74.1% for the previous week.

Looking at the national monthly figures for the month of March Sydney’s clearance rate was slightly behind that of Melbourne with a rate of 70.1% and 72.5% consecutively. Even with consistent figures looking back at March 2015 the clearance rate for Sydney was 83.2% and the clearance rate for Melbourne was 76.3%.

In March Brisbane had a total of 378 properties listed with a clearance rate of 43.1% and Adelaide had a total of 233 listed properties with a clearance rate of 66.1%.

* Saturday’s auction clearance rates are preliminary.