Spring brings record auction clearance rate

Date: 25 September 2013

The auction clearance rate for the peninsula hit a record high of 86.21 per cent during the weekend.

The strong sales were felt across all sectors of the market, with all properties selling above reserve one $220,000 above reserve.

Twenty nine peninsula properties were being offered at auction last week and 25 of them sold either early or on the day.

The new clearance rate peak comes after levels have hovered between 50 and 60 per cent this year with a spike to 78 per cent in August.

Clearance rates for Sydney have been above 80 per cent for three weeks running hitting a peak of 88.25 per cent at the weekend, according to RP Data.

Pat Brown. of First National, auctioned a two bedroom cottage in Seebrees St, Manly Vale on Saturday.

He had valued it in the high $700,000s but it sold for $835,000 on Saturday to a young Dee Why couple.

“This is one of the strongest Springs I have ever seen.

The last time it was this strong was in 2001/2,” he said

First National Real Estate Manly Vale

Source: Manly Daily, Sydney, 25 Sep 2013
Back to articles Filed under: Media / NSW News Tags: auction, clearance rate, first national real estate manly vale, manly, manly vale, pat brown
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