Error message
  • Warning: array_flip(): Can only flip STRING and INTEGER values! in EntityCacheControllerHelper::entityCacheLoad() (line 73 of /srv/www/drupal7/sites/all/modules/entitycache/includes/entitycache.entitycachecontrollerhelper.inc).
  • Warning: array_flip(): Can only flip STRING and INTEGER values! in EntityCacheControllerHelper::entityCacheLoad() (line 73 of /srv/www/drupal7/sites/all/modules/entitycache/includes/entitycache.entitycachecontrollerhelper.inc).
  • Warning: array_flip(): Can only flip STRING and INTEGER values! in EntityCacheControllerHelper::entityCacheLoad() (line 73 of /srv/www/drupal7/sites/all/modules/entitycache/includes/entitycache.entitycachecontrollerhelper.inc).
  • Warning: array_flip(): Can only flip STRING and INTEGER values! in EntityAPIController->load() (line 219 of /srv/www/drupal7/sites/all/modules/entity/includes/entity.controller.inc).

Big two capital cities set for 500-plus auctions this week: RP Data

The national weighted auction clearance rate was recorded at 52.5% last week, down from 56.5% the week prior. Auction volumes were subdued over the week, with 741 capital city auctions taking place, compared with 1,733 the week prior. At the same time last year, there were 643 auctions held across the capital city markets with a clearance rate of 39.5 per cent.

The traditionally subdued weekend of auctions, due to both the AFL and NRL grand final being held, brought auction volumes in Melbourne, Australia’s largest auction market, down from from 754 auctions the week prior to just 55 auctions last week. Clearance rates in Melbourne increased on the low volume to 77.8% last week, compared with 6% the previous week and 46.7% over the same week last year.

In Sydney last week, auction volumes were down from 671 the week prior to 489, while the auction clearance rate fell slightly from 59.2% to 58.7%. At the same time last year, over the 319 Sydney auctions, the auction clearance rate was recorded at 44.4%.

Click to enlarge

Source: RP Data

What do you think will happen in the spring property market? Complete our five-minute spring property outlook survey for your chance to win an iPhone 5.

And for more on the spring property market, download our free eBook Auction vs. Private Treaty Plus 9 Spring 2012 Selling Tips

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?