The number of properties sold in auctions fell in Melbourne, Sydney and Brisbane, but it rose strongly in Canberra and Perth during the week ending 6th September according to Total auctions dropped by 13% to 601 in Melbourne. Sydney lost 9% to 396 while Brisbane recorded a 15% drop in the number of auctions.

Buying activity remained strong as evidenced by the continuing improvement in auction clearance rates across all capital cities. Adelaide recorded the biggest jump in clearance rates at 77.8% from 54.5% from a week ago while Melbourne and Sydney remain strong at 83% and 76.5% respectively.

Auction results for week ending 6th September 2009