Auction volumes slowly on the rise after holiday break: RP Data

Auction volumes are slowly beginning to increase after a subdued couple of months over the end-of-year holiday season. Last week, there were 403 auctions held across the capital cities, and the clearance rate was recorded at 55.9%. Over the same week last year, there were 371 auctions in the capital cities with a clearance rate of 41.8%.

Melbourne recorded a clearance rate of 62.8% last week, with 122 auctions held across the city. Last year there were 121 auctions, and the clearance rate was 42.5%. A clearance rate of 74.4% was recorded for Sydney, where 82 auctions took place over the week. At the same time last year, Sydney recorded a clearance rate of 62.5% when 69 auctions were held across the capital city.

Over the coming week, there are 665 auctions scheduled. It is expected that within the next month, auction volumes will resume some normality.