Sydney early bird vendors got the auction buyers in 2011: APM
The auction clearance rate in Sydney across 2011 was 53%.
It was down from 61% in 2010 and 65% in 2009 but up 47% in 2008, according to Clinton McNabb, research analyst at Australian Property Monitors.
The clearance rate fell gradually across the year from 59% in February to a low of 49% in December.
The highest auction clearance rate was in the week ending February 12 at 63%, and the lowest week was the week ending December 10 at 47%.
There were 25,435 auction listings in 2011, down 5.4% compared with 2010.
The total value sold in 2011 was $11.26 billion, down a considerable 20% compared with 2010.
There were 12,701 properties sold at auction in 2011, some 18% fewer than the year before.
APM advised the median price for houses sold at auction was $845,000, down 2.9% year on year.
The median price for units sold at auction was $580,000, down 0.9% year on year.
Alexandria headed the suburbs with the highest auction clearance rates at 77%, followed by Ashfield 74% and Dulwich Hill.
The suburbs with the weakest auction clearance rate were Avalon 30%, Kellyville 30% and Collaroy 36%.
The inner west, inner Sydney and south west had the best-performing auction markets, while the central coast, outer-western Sydney and northern beaches were the worst performing, McNabb says.
