Global Power | Local Knowledge | Uniquely Personal

Sydney's auction success to con...

Sydney's auction success to continue through spring

This weekend saw another high clearance rate from Sydney's weekend auctions.

Sydney achieved another high clearance rate this weekend and experts predict that this trend will continue through the spring months.

On the last weekend of September, Sydney achieved a clearance rate of 81.4 per cent, according to RP Data, as 766 out of 872 properties sold at auction.

RP Data say that auctions across the country are set to increase this weekend, having dropped off somewhat last weekend.

Melbourne saw far fewer auctions taking place as residents were distracted by the Australian Football League Grand Final, which takes place yearly at the Melbourne Cricket Ground.

Partly as a result of high buyer activity at weekend auctions, Sydney has seen house prices grow considerably.

The newest results from the RP Data Rismark Home Value Index showed that average dwelling prices in Sydney grew 2.5 per cent over September and 5.2 per cent over the three months leading to October.

Posted by Craig Francis

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

Subscribe Now