The first weekend of Auctions since the release of the new budget and it would seem that things are ticking along quite nicely.
There were a lot of properties listed to go to Auction at the weekend and clearance rates were only slightly lower than this time last year. I would hazard a guess that the median sale price at Auction has risen though.
There were originally 778 properties scheduled for Auction with 523 reported to have taken place and 445 sold under the hammer.
The clearance rate was 79% – I did see clarification that it was 79.5% or some small correction though.
Finally, the median sale price of property at auction at the weekend was $1,275,000.