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%.

Source: RP Data

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