Auction Clearance Rates Fail to Impress

In Sydney the clearance rate fell to 56.3 per cent for the weekend commencing December 1 2007, a drop from 60.7 per cent last week, according to Australian Property Monitors.

The highest price was achieved for a five bedroom mansion in Vaucluse, which sold for $4.8 million through First National Spencer & Servi Surry Hills.

Meanwhile in Melbourne, the clearance rate fell to 76.9 per cent, slightly higher than the 76.6 per cent recorded last week.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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