Auction volumes rise 14% on 2013: RP Data's national auction wrap

A preliminary weighted average clearance rate of 69% was recorded this week across capital cities compared to 63.5% last week and 67.4% this time last year.

Auction volumes were 14% higher than this time last year due to increased listings in both Sydney and Melbourne. Higher stock levels are providing increased opportunities for buyers in capital cities, especially in Melbourne.

In Sydney the auction market returned to trend after the second highest volume this year. A preliminary clearance rate of 75.2% recorded compared to 68.1% last week and 75.3% last year.

In Melbourne a preliminary clearance rate of 66.7% was recorded compared to 65.5% last week and 69% this time last year. Lower clearance rates have certainly been observed over the last three weeks. Analysis shows that they have returned to trend after what was in retrospect a strong early spring.

In Brisbane a preliminary clearance rate of 45.3% was recorded compared to 43.1% last week.

Adelaide recorded a clearance rate of 60.7% compared to 57.4% last week.

In Canberra a clearance rate of 66% was recorded.

In Perth a clearance rate of 66.7% was recorded.

In Tasmania 4 auction sales were recorded and 3 homes were passed in.