Auction market hits three month high: RP Data's national auction preview

There are 1,900 auctions scheduled across Australia this week. In capital cities there are 1,531 auctions expected compared to only 1,441 for the same period last year.

Compared to last week or this week last year capital cities are showing a moderate improvement in key indicators. This is highlighted by the fact that the national clearance rate reached a three month high last week.

A review of the RP Data Listings Index, which measures forward listings activity, shows a clear rising trend compared to last year. When translated to the auction market this should result in volumes in August and September around 10 to 20% higher than last year.

• In Melbourne there are 665 auctions scheduled compared to 637 this time last year.
• In Sydney there are 600 auctions expected compared to 469 for this week last year.
• Brisbane is expecting 137 auctions, well down on the 220 this week last year.
• Adelaide is expecting 62 auctions compared to 51 a year ago.
• Canberra has 37 auctions scheduled compared to 29 a year ago.
• Perth has 21 auctions compared to 27 a year ago.
• There are eight auctions scheduled in Tasmania.

For the second week in a row the highest number of auctions across Australia is expected in the northern suburbs of Melbourne where 23 are expected in Reservoir.