Melbourne and Sydney gear up for one of the busiest auction weekends of the year: RP Data

The combined capital city auction clearance rate increased from 52.8% to 56.2% last week. Over the week, there were 1,555 auctions held across the capital cities, which is comparable to volumes recorded over the previous week. At the same time last year, auction volumes were up with just under 1,700 auctions held across the capitals, however, the clearance rate was recorded at a much lower 44.9 per cent.

In Melbourne, Australia’s largest auction market, the clearance rate increased to 60.8% last week, from 55.5% the week prior. There were 726 auctions scheduled over the week. Next week, there are 1,207 auctions scheduled across Melbourne. In Sydney, auction clearance rates increased from 57.6%the week prior to 60.3% last week.

Across the capital cities, there are 2,353 auctions scheduled for the coming week, which will be one of the busiest auction weekends seen this year.

Source: RP Data