Auc­tion rates cop ham­mer­ing from footy

The Sunday Telegraph (Sydney) - - NEWS -

SYD­NEY’s auc­tion clear­ance rate plum­meted to 44.39 per cent yes­ter­day — the low­est in a decade — as buy­ers fo­cused on the long week­end and footy.

There were just 380 auc­tions sched­uled — well down on last week’s su­per Satur­day of about 800 — and CoreLogic auc­tions com­men­ta­tor Kevin Bro­gan said the re­sult was based on the 223 that had been re­ported.

The pre­lim­i­nary clear­ance rate was 14.71 per cent down on last Satur­day.

Mr Bro­gan said the last time the clear­ance rate was this low was De­cem­ber 14 in 2008, when it hit 43.6 per cent.

Many agents had a sense that auc­tion carnage lay ahead and were fran­ti­cally try­ing to stitch up a deal in the days lead­ing up to the long week­end. The clear­ance rate in­cludes those sales.

Yet some buy­ers stayed fo­cused on the op­por­tu­ni­ties at hand, with well­priced prop­er­ties at­tract­ing con­sid­er­able com­pe­ti­tion.

A Bondi Junc­tion de­ceased es­tate had five reg­is­tered par­ties and sold for $500,000 above re­serve, while a Crows Nest two-bed­room cot­tage sold for $200,000 above re­serve.

2 Coun­cil St, Bondi.

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