National scheduled auctions slightly drop but clearance rate remains strong: RP Data

Auction volumes across the capital cities slightly decreased this week as we face the final weeks of winter, with 1,312 auctions scheduled across the capital cities, according to RP Data.

Auction volumes across the capital cities increased last week to 1,405, up from 1,310 the previous week.

The auction clearance rate also increased last week from 69.3% the previous week to 72% last week.

At the same time last year, there were 1,172 auctions but a substantially lower clearance rate of 49%.

Melbourne auctions increased last week from 600 auctions the previous week to 667 last week.

Melbourne’s preliminary clearance rate also increased from 70.9% the previous week to 71.3% last week.

At the same time last year Melbourne held 541 auctions and had a clearance rate of 53.9%.

Sydney’s clearance rate is continuing its strong upward trend with 75.5% recorded the previous week and 79.5% recorded last week.

Sydney’s auction volumes also increased last week to 502, up from 466 the previous week.

However, Sydney’s and Melbourne’s scheduled auctions this week are slightly lower at 496 auctions for Sydney and 615 scheduled for Melbourne.