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ISCOVER
Staff Reporter
Suggestions that the traditionally hot spring selling season may be delayed until later in the year look to be correct, after another weekend of lacklustre auction activity.
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Last week, Raine & Horne’s Angus Raine told The Adviser that the spring selling season may not begin until December as potential buyers continue to sit on their hands.
According to data from Australian Property Monitors this statement may not be far off the mark, with auction clearance rates failing to top 60 per cent for the last three weeks.
In Sydney, just 58.6 per cent of properties cleared over the weekend – down from 60.9 per cent this time last year.
The story was much the same in Melbourne, with just 52.9 per cent of properties clearing this weekend.
The most expensive property to go under the hammer this weekend was a three bedroom house in Clovelly, which sold for $2.385 million.
At the other end of the price scale, the most affordable home to be sold at auction was a one bedroom unit in Fairfield, which sold for $167,500.
