Melbourne continues to dominate auction front with 768 forthcoming auctions: RP Data

There are 1,593 auctions scheduled across the nation’s capital cities this week, with Melbourne continuing to dominate with 768 scheduled auctions, according to RP Data.

Sydney has 500 auctions scheduled for the week ending May 5.

There were a revised 1,614 auctions held last week across the nation’s capital cities, an increase from a revised 1,433 the previous week.

The clearance rate is continuing to improve with 66.8% recorded for last week, an increase from the previous week of 63%.

At the same time last year, there were 1,235 auctions recorded.

Melbourne had a big week with a revised 820 auctions and an increased clearance rate of 70.6%.

The previous week Melbourne had slightly less auctions at a revised 743 and a clearance rate of 66.5%.

At the same time last year the clearance rate was much lower at 55.9% and 573 auctions recorded.

The clearance rate has vastly improved from the same time last year where it was 49.9%.

There were 503 auctions recorded in Sydney last week, up from the previous week of 440.