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Auctions volumes trending lower: RP Data's national auction market wrap

Auctions volumes trending lower: RP Data's national auction market wrap
Auctions volumes trending lower: RP Data's national auction market wrap

The preliminary auction clearance rate of 67.4% was recorded this week across capital cities compared to 62.3% last week and 65.6% this time last year.

Auctions volumes trending lower: RP Data's national auction market wrap

Volumes have been lower this week as the market heads into a traditionally quieter time in winter.

The higher clearance rate is largely a factor of a stronger Sydney market where a preliminary clearance rate 76.1% was recorded compared to 71.4% last week.

Auctions volumes trending lower: RP Data's national auction market wrap

The higher national clearance rate does not represent a significant shift in the market and is broadly in line with the trend this year, particularly with the results prior to Easter and Anzac Day.

In Melbourne a preliminary clearance rate of 63.4% was recorded compared to 61.9% last week. Last week’s Melbourne clearance rate was the lowest since late 2012 and is running counter to the established trend through the last year and also reflects moderating growth in property values.

Auctions volumes trending lower: RP Data's national auction market wrap

In Brisbane a preliminary clearance rate of 54.8% was recorded compared to 42.4% last week. Adelaide recorded a clearance rate of 60.5% compared to 62.7% last week.

In Canberra a clearance rate of 58.8% was recorded and in Perth there was one auction sale from eight results. In Tasmania there was two sales from three results.

Auctions volumes trending lower: RP Data's national auction market wrap

Auctions volumes trending lower: RP Data's national auction market wrap

Robert Larocca

Robert Larocca

Robert Larocca is Victorian housing market specialist for CoreLogic RP Data.

Tags: 
National Auctions Robert Larocca

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