Auction clearances much higher than a year ago, with another busy auction week ahead: RP Data

Across the combined capital cities clearance rate was recorded at 53.7% for the week ending November 18, 2012. The current clearance rate is an increase from the previous week’s clearance rate, which was 50.6%.

Across the capital cities, there were 2,090 auctions held over the past week, which is higher than the previous week. At the same time the previous year, there were just under 1,700 auctions held across the capital cities. The clearance rate over the past week was much higher in comparison with the same time last year, when the clearance rate was recorded at 45.8%.

In Australia’s largest auction market, Melbourne, the clearance rate was recorded at 60.7% over the last week. This is an increase from the previous week’s clearance rate of 55%. Over the past week, there were 831 auctions held in Melbourne and there are 960 auctions scheduled across Melbourne over the next week. In Sydney, auction clearance rates decreased from 52.6% the previous week to 50.9% last week.

It will be a busy auction week over the coming week, with a total of 2,034 auctions scheduled across the capital cities.