Sydney auction rates top 80pc again

Sydney’s weekend auction clearance rate was once again above 80% in October after falling below the magic mark for the first time in two months.
The latest clearance rate for the weekend of October 26-27 was 83.2 per cent – a little better than the 79.9 per cent the weekend prior.
Brisbane Times reported 693 auctions, which was the runner-up for the most auctions all year.
There were about 500 more auctions in October this year than the same month last year. October numbers had jumped almost 30 per cent on the previous year.
About 85 per cent of properties auctioned in Canterbury Bankstown were cleared, but the south, the west, the inner west and the upper north shore all had clearance rates around the 80 per cent mark.
A five bedroom house in Canterbury Bankstown sold for $1.2 million. A five bedroom home on the upper north shore sold for $3.3 million.