at a time when higher rates and the onset of winter are slowing activity in the mid-market range.
“$50 million? It might be more,” one market source said. “Some vendors are in the box seat with prices.” In Melbourne, where there were 618 scheduled auctions – down from 714 a week earlier – the preliminary clearance rate, based on reported results so far, slipped to 71.6 per cent from the previous week’s initial read of 72.4 per cent.
A three-bedroom townhouse with no parking at 5/58 Victoria Street in inner-southern Sydney’s Beaconsfield sold for $1.34 million at auction on Saturday. The reserve price was $1.1 million. Adelaide and Canberra showed stronger results, with the SA capital returning a preliminary 85.7 per cent clearance rate based on the reported results of 69 scheduled auctions, up from the previous week’s preliminary reading of 70.4 per cent on 122 scheduled auctions.