Sydney clearance rates hit four-month high

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August clearance rates in Sydney are shaping up as the best monthly results since April.

The auction market finished up with a 68% success rate on the weekend, and an overall 66% clearance rate this month.

According to Australian Property Monitors agents sold 215 of the 292 properties - an increase over last weekend which coincided with the nation’s political election.

Of the 260 properties on auction in Melbourne on Saturday, 165 were sold, while five were withdrawn. The clearance rate was slightly lower than Sydney at 62%.

In Brisbane, total sales were just $1,840,000. Of the 16 properties on auction, four were sold and three were withdrawn, making the clearance rate 21%.


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