This article is from the Australian Property Journal archive
THE residential property auction market was subdued due to the Queens Birthday long weekend.
In Melbourne only 158 auctions were reported and 105 sold whilst 53 were passed in, resulting in a clearance rate of 66%, according to the REIV.
The total value of sales was only $61.27 million.
Although the auction market was subdued during the long weekend, it was business as usual for the private sales market.
There were 672 private sales totalling $303.3 million.
Sydney’s auction market was also subdued, according to the Australian Property Monitors. There were 171 auctions and 138 sales totalling $94.6 million, resulting in a clearance rate of 69.7%.
Property Review
