Almost 2,900 auctions set for this week: RP Data

Clearance rates across the combined capital cities decreased to 49.4% last week, compared with 51.3% the previous week. There were 2,139 auctions held across the capital cities last week, while at the same time last year, the combined capital city clearance rate was recorded at 44% and there were 1,790 auctions held over the week.

In Melbourne last week, the clearance rate was recorded at 55.6%, down from a stronger 58.2% the previous week. Melbourne’s clearance rate continues to outperform when compared with the same time last year, when the clearance rate was recorded at 50%. Auction volumes are also at higher levels with 971 auctions held across Melbourne last week, compared to 774 at the same time last year. There were 784 auctions held in Sydney last week with the clearance rate recorded at 48.6%, down from 50.4% the previous week. Over the same week last year, Sydney’s clearance rate was recorded at 44.5%.

Next week, there are almost 2,900 auctions scheduled across the country, with 2,097 of these auctions being held in the capital cities.