Record listings causes auction clearance rates to plunge on Sydney’s Northern Beaches

Sydney has recorded a record 2860 houses and units up for Auction this month, double the 1400 listings in March last year.

Under the weight of these extra listings, the clearance rate in the Northern Beaches has plunged from 60 per cent last month to just 30% so far this month. Similar falls have been seen in the lower North Shore where clearance rates have fallen from 83 per cent last month to 67 per cent this month, and in the south-west where the rate has fallen from 59 per cent to 38 per cent.

ยป Record number of homes for sale takes gloss off auction prices – Sydney Morning Herald, March 12th 2010.

1 Comment

  1. I wonder how many of these have been triggered by rising interest rates and lower rental yields?

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