Auction volumes drop slightly: RP Data

Auctions volumes have slightly dropped this week, with 1,241 auctions scheduled across the capital cities, according to RP Data.

There were a revised 1,393 auctions last week, up from the previous week of 1,131 auctions. 

The clearance rate last week slightly increased to 65.7%, up from 65.4% the previous week.

At the same time last year the clearance rate was much lower at 50.8% but auction volumes were only slightly lower at 1,164.

Melbourne’s auction volumes increased last week to a revised 612, up from 486 auctions the previous week.

The clearance rate in Melbourne also increased from 62.8% the previous week to 67.7% last week.

There are 565 auctions scheduled across Melbourne this week.

Sydney has 443 auctions scheduled for this week, very similar to the revised figure of 447 auctions last week and 410 auctions the previous week.

The clearance rate in Sydney increased last week from 79.1% the previous week to 80.6% last week.

At the same time last year, Sydney had a clearance rate of 53.4% and Melbourne had a clearance rate of 51.3%.

Sydney and Melbourne both have more auctions scheduled this week than at the same time last year, with Sydney holding 417 auctions last year and Melbourne holding 521.