Auction volumes projected to reach a high in late October: RP Data's national auction wrap

Auction volumes projected to reach a high in late October: RP Data's national auction wrap
Auction volumes projected to reach a high in late October: RP Data's national auction wrap

A preliminary weighted average clearance rate of 68.7% was recorded this week across capital cities compared to 66.9% last week and 72.5% this time last year.

Volumes are rising and are projected to reach a high in the last week of October in what will be a test for the market.

Auction volumes projected to reach a high in late October: RP Data's national auction wrap

Source: RP Data

Auction volumes projected to reach a high in late October: RP Data's national auction wrap

Source: RP Data

In Sydney a preliminary clearance rate of 75.8% was recorded compared to 76.4% last week. It is interesting to note that there have been 43% more auctions this year than was the case last year, remarkably the clearance rate has not been affected.

In Melbourne there was a preliminary clearance rate of 67.2% recorded compared to 69.1% last week and 74% this time last year. This was the 15th week with in excess of 1,000 auctions.

In Brisbane a preliminary clearance rate of 54.2% was recorded compared to 47.4% last week.

Adelaide recorded a clearance rate of 58.7% compared to 53.7% last week.

In Canberra a clearance rate of 56.4% was recorded.

In Perth a clearance rate of 33.3% was recorded.

Robert Larocca

Robert Larocca

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

Tags: 
Auctions

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