According to a report in the Sydney Morning Herald, auction clearance rates this weekend were 49%, the poorest result for 18 months. Another statistic of note was the increase in "sales prior", indicating that vendors recognise the market stalling and are keen to sign up to a sale. So this must be a good time for canny buyers to get in with offers!
But Australian Property Monitors gives more detail than did the SMH summary, showing that while the auction clearance rates over the weekend were down considerably in Melbourne and Brisbane, those in Sydney and Adelaide showed modest gains.
That fits in with viewing statistics on the Ray White Beecroft web site raywhitebeecroft.com.au which registered more hits last week than for a long time, so there is still lots of interest out there in the upper and middle markets of Sydney property.
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