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Australia

Sydney clearance rate cracks 80 per cent again

The Sydney auction market is on fire, with the clearance rate yet again topping 80 per cent this week.

There were strong results across the whole city, with Sydney’s preliminary clearance rate at 81.7 per cent from 444 auctions. This topped Melbourne’s 78.3 per cent.

MORE: Couple ‘emotional’ after auction blitz

Bondi homes sell $210k and $350k over reserve

On the corresponding weekend last year Sydney had a clearance rate of 51.9 per cent from 572 auctions.

All properties within the city and inner south sold at auction, with the region having a 100 per cent clearance rate, according to CoreLogic data.

The Ryde region was also strong at 88.2 per cent, while the inner west was at 88 per cent and the inner south west at 87.1 per cent.

The weakest recorded region was the south west at a respectable 60 per cent, while Parramatta had a clearance rate of 68.4 per cent.

With all auction data collected for last week, Sydney’s final clearance rate sits at 76.2 per cent from 367 auctions.

The top sale for the week was in Strathfield, where a six-bedroom home sold for $6 million.

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