Low auction numbers giving high clearance rate momentum

Relatively low auction numbers continue to contribute to high clearance rates.

Although the 471 auctions listed on Saturday were higher than the previous weekend’s 394, auction numbers remained seriously below the 727 auctioned on the same weekend last year.

Regional results were remarkably consistent, with all areas sharing in the booming market, Dr Andrew Wilson at Domain advised.

The upper north shore recorded the highest clearance rate at 88.9 percent and the highest sales at 48.

This was followed by the lower north at 87.5 percent, the south at 86.3 percent, the northern beaches at 84.4 percent, the central coast at 83.3 percent, the north west at 81.8 percent, the inner west at 81.1 percent, Canterbury Bankstown at 79.3 percent, the west at 78.3 percent, the south west at 77.8 percent and the city and east with a clearance rate of 77.1 percent.

Notable sales reported at the weekend included a six-bedroom home at 219 Edinburgh Road, Castlecrag (above) sold for $3.65 million by Richardson and Wrench Castlecrag and Northbridge/Sotheby’s Realty.