Auction clearances steady on the weekend as the nation switches to football

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Oct 3, 2016

Auction clearances steady on the weekend as the nation switches to football

Auction clearance rates held steady on the weekend, despite two grand finals and a public holiday.

Image: Bradfield Cleary.

One of the best sales of the weekend was achieved at 61 Cross Street, Double Bay, where a three-bedroom terrace sold by Georgia Cleary of Bradfield Cleary for nearly $4.5 million.

Only 133 auctions were held in Melbourne on the weekend, with residents turning their attention to the AFL grand final. The clearance rate was 92%, which is probably not an accurate representation of the market given the low volumes.

One of the biggest sales of the weekend was a 4,339sqm parcel of land approved for a development of 16 townhouses. The two properties at 13-15 Baileyana Drive were sold by Knight Frank - Melbourne for $2.3 million.

In Sydney, 628 auctions were held and the clearance rate was 80%.

One of the best sales was achieved at 61 Cross Street, Double Bay, where a three-bedroom terrace, with parking and open on one side, sold by Georgia Cleary of Bradfield Cleary for $4.425 million.

The clearance rate in the ACT was 72%, in Adelaide was 75%, and in Brisbane, Perth, Hobart and Darwin clearance rates were all below 50%.