Once again, in spite of negative coverage of late in the media, the Auction clearance rate, median sale price and property market continues strongly.
There were 880 properties scheduled to go to auction at the weekend, which is high, with 608 reported to have taken place and 512 sold under the hammer. There were 58 withdrawn for whatever reason.
While the clearance rate has dipped below 80% again, we need to take into account the large number of property that was scheduled to be auctioned, invariably, when this figure is high, the clearance rate is slightly lower.
The big news is the median sale price of property at auction was $1,300,000.