Election pauses auction market
Contact
Jul 4, 2016
Election pauses auction market
Sellers preferred to hold off until after the election, but buyers were still buying on the weekend.
-
Image: Ward Partners.The most expensive property sold over the weekend was at 27 Dick Street, Henley, NSW.
Auction clearance rates were buoyant over the weekend, though only 811 auctions were held, according to CoreLogic figures.
The weekend auction clearance rate of 70.7% looks remarkably strong, but should be viewed in the context of fewer-than-average properties going to auction.
Sellers held off putting their property to auction on the election weekend, but buyers were not deterred.
The clearance rate in Sydney was a remarkable 80.4%, while in Adelaide the clearance rate was 74.2%. In Melbourne, 71.6% of properties that went to auction were sold.
Clearance rates in Brisbane (38.6%), Perth (46.2%), and Tasmania (33.3%) were below 50%, while Canberra's auction clearance rate was exactly 50.0%.
The stand out region was Melbourne's inner south, where 100% of properties that went to auction were sold.
The most expensive property sold over the weekend was at 27 Dick Street, Henley, NSW. The four-bedroom house sold for $5.9 million through Ward Partners.
Read more:
Contact Details:
