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Auction sales significantly down on last year

By Staff Reporter
24 February 2015 | 4 minute read

There were big jumps in clearance rates over the weekend – along with big falls in sale numbers.

Sydney’s clearance rate over the weekend was 84.6 per cent – up on the 79.0 per cent recorded at the same time last year, according to Australian Property Monitors.

However, the number of sales fell 24.0 per cent to 452.

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The median price of the houses sold jumped 13.9 per cent to $1.3 million, while the median unit price rose 4.0 per cent to $748,000.

Melbourne’s clearance rate increased from 71.9 per cent to 77.3 per cent, while sale numbers declined 28.3 per cent to 552.

Median house prices climbed 6.5 per cent to $852,000, but median unit prices dropped 2.9 per cent to $486,000.

Brisbane enjoyed the biggest clearance rate spike – up from 45.3 per cent to 57.1 per cent. Sales numbers fell 17.6 per cent to 28 and median house prices grew 13.9 per cent to $813,000.

Adelaide’s clearance rate rose from 58.6 per cent to 61.5 per cent. Sales dropped 41.5 per cent to 24 and the median house price climbed 2.6 per cent to $595,000.

[Related: ‘Unprecedented confidence’ drives auctions surge]

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