Sydney auction success rate moves into the 70s
Staff reporterAugust 23, 2020
Sydney’s auction market saw a preliminary clearance rate of 70.9 per cent.
Some 284 results had been reported, following 449 scheduled auctions, of which 56 were withdrawn from sale.
Melbourne’s stage 4 restrictions on auctions and inspections saw the preliminary clearance rate fall to 53 per cent, according to Domain.
There were 139 scheduled online auctions, with 63 reported results and 46 withdrawals.
Of the online auctions that went ahead, the clearance rate was 67 per cent.
Canberra continues to be the standout performer with 87.8% of auctions successful this week at preliminary collection. The city does only account for a small portion of overall auctions however.
The top sale was $7.2 million in Vaucluse.
Another of the big auction results was the four-bedroom home at 42 Bulls Road, Burraneer (pictured in title), that told for $7.1 million, some $1.85 million above the reserve.
In Little Bay in Sydney’s south-east, a five-bedroom, four-storey home at 6 Lister Avenue sold for $6.4 million.
