There were about 1500 auctions in Sydney at the weekend.of nearly 4000 auctions produced mixed results. Sydney’s middle range market for properties valued up to $4 million slowed, there was weakness in Melbourne’s middle ring of suburbs and strong results in Brisbane and Adelaide.
“The cycle is running out of gas as the impact of the pandemic works its way out of the system,” Mr Wilson said. “The real heat is coming out of the market.” Sydney’s clearance rate was 65 per cent, compared to 81 per cent last year, and Melbourne’s dipped to 68 per cent compared to 73 per cent for the same weekend last year.
“The market is becoming more stable after the craziness after the end of lockdown,” Rosslyn Mastrangelo, a real estate agent with Marshall White, said.
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