It seems like the pool of public auctions are getting smaller and smaller.
431 Auctions took place over the weekend with a clearance rate of 57% reported. Private Sales were at 546 for the week which is now clearly the most dominant sale method.
The separation of clearance for apartment and houses show that homes are running at 59% while apartments are struggling with a total clearance rate of 53% for the weekend. As many results were not reported we’d also expect that the true clearance was well below 50% for both different classes.
49 Sackville Street Kew was the top result for Saturday and produced a figure of $4,310,000. The inner city showed some resilience for good property, especially the sale of 18 Bayles Street Parkville (831k) and 5 Haines Street North Melbourne (889k). While a pair of terraces at 79-81 York Street Richmond struggled that’d be unusual in the best of times.
This weeks market wrap can be found here