National auction market well placed for spring sales: RP Data's national auction wrap

National auction market well placed for spring sales: RP Data's national auction wrap
National auction market well placed for spring sales: RP Data's national auction wrap

A preliminary weighted average clearance rate of 66.7% was recorded this week across capital cities compared to 70.8% last week and 70% this time last year.

All capital cities have seen a higher number of auctions than last year. Compared to last year the best performing auction markets from the perspective of relative improvement this year have been Sydney, Tasmania and then Adelaide. Sydney has seen a 63% rise in the number of homes sold at auction, Tasmania a 56% rise and a 48% rise was recorded in Adelaide.  

It should be noted that there have been 357 auctions in Tasmania this year, 2,467 in Adelaide and 22,329 in Sydney.

RP Data auction market review | Capital city

In Sydney a preliminary clearance rate of 76.2% was recorded this week compared to 76.2% last week. Compared to last year and over recent months Sydney has clearly been the strongest auction market.

RP Data auction market review | Sydney

In Melbourne there was a preliminary clearance rate of 64.1% recorded compared to 73.3% last week. Melbourne remains on trend and once final results are in should confirm it has a healthy auction market on the eve of spring.

RP Data auction market review | Melbourne

In Brisbane a preliminary clearance rate of 52.1% was recorded compared to 50% last week.

RP Data auction market review | Brisbane

Adelaide recorded a clearance rate of 68.5% compared to 65.6% last week.

RP Data auction market review | Adelaide

In Canberra a clearance rate of 46.9% was recorded and in Perth there was a clearance rate of 38.9%.

Robert Larocca

Robert Larocca

Robert Larocca is Victorian housing market specialist for CoreLogic RP Data.

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