Both Melbourne and Sydney surpass 70% weekly auction success rates: RP Data
The national RP Data auction clearance rate sat at 67.3% over the week ending Sunday May 5, up from 64.5% the previous week.
There were slightly fewer auctions held this week, down from 1,658 the previous week to 1,632 this week, the RP Data auction report noted.
But in Melbourne, Australia’s largest auction market, the clearance rate increased from 68.1% the previous week to 70.4% this week.
In Sydney, a similar trend was seen, with clearance rates up from 70.6% over the previous week to a strong 72.4% this week, ending May 5.
The national result is across the combined capital cities.
The results are preliminary, with ‘final’ auction clearance rates published each Thursday with RP Data estimating on average, that it collects between 80% and 85% of all auction results each week.
