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ISCOVER
Staff Reporter
The warmer weather over the weekend did little to spur buyer interest, with auction clearances rates just tipping 50 per cent in Sydney and Melbourne.
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In Sydney, 55.3 per cent of properties cleared at the weekend, according to Australian Property Monitors.
The most expensive property sold in the capital city over the weekend was a four bedroom house in Bronte, which went under the hammer for $2.056 million.
At the other end of the spectrum, the most affordable property sold was a three bedroom, $280,500 house in Plumpton.
Melbourne achieved similar results, with the auction clearance rate sitting at 54.7 per cent.
But while the relatively low clearance rates suggest there are not many buyers in the market, it seems there are still plenty of sellers.
According to the latest sales data from the Real Estate Institute of Victoria, stock levels will continue to increase over the next few weekends with around 2,600 auctions scheduled between now and the end of November in Melbourne alone.
