NEW figures have revealed the suburbs where selling by auction is more successful than anywhere else.
Of the three capital cities where auctions are prominent, Sydney’s Millers Point and Naremburn plus East Melbourne all recorded a perfect auction clearance rate in the past quarter.
Naremburn’s clearance rate increased from 82.9 per cent in the December quarter, while East Melbourne jumped from 80.8 per cent.
Brisbane’s best performer was the outer suburb of Runcorn, where the clearance rate was 77.3 per cent – well above the Brisbane average of 45.3 per cent.
Runcorn was a consistent performer for Brisbane with the suburb also achieving the best auction clearance rate in the December quarter.
In the December quarter no suburbs had a 100 per cent clearance rate.
The best performers were Hoppers Crossing in Melbourne, 95.7 per cent; Drummoyne (in Sydney) 89.4 per cent; Runcorn 76.2 per cent.
The combined capital city clearance rate fell to 67.9 per cent during the June quarter down from 69.4 per cent over the first quarter of 2016.
In the regional property markets both Wollongong and Geelong had a clearance rate of more than 60 per cent during the June 2016 quarter.
It was the third quarter in a row that Geelong was the strongest performing regional auction market.
The Gold Coast was rated the busiest market for auctions, but it only managed a clearance rate just under 50 per cent.