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ISCOVER
Staff Reporter
The spring selling season has ended on a relatively high note, with more than 50 per cent of properties clearing in Sydney over the weekend.
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According to Australian Property Monitors, 54.9 per cent of properties cleared, making it one of the best selling weekends this spring.
The most expensive property to go under the hammer in the capital city this weekend was a five bedroom, $5.5 million house in Cremorne Point, while the most affordable property to sell at auction was a two bedroom, $232,000 unit in Liverpool.
In Melbourne, 50.0 per cent of properties cleared over the weekend – the exact same result as last weekend.
Real Estate Institute of Victoria chief executive Enzo Raimondo said the Melbourne market was very evenly balanced at the moment, providing good opportunities for buyers and sellers.
"Results from the last months auctions show how evenly balanced the market is with half the auctions resulting in a sale. This provides buyers with considerable opportunities to make offers on homes that are not being sold at their auction," he said.
Next weekend the REIV expects around 800 auctions and 925 the weekend after.
