Auctions continue to dwindle as cooler weather sets in: RP Data

As we creep closer to winter, slightly fewer auctions are being held every weekend, with 1,398 auctions scheduled across the capital cities this week, according to RP Data. 

This figure is slightly lower than the revised 1,545 auctions that took place last week and the 1,749 auctions that took place the week before.

The clearance rate softened slightly from the previous week of 67.7% to 67.5% last week.

At the same time last year, the clearance rate was much lower at 54.1%.

Melbourne has 682 auctions scheduled for the coming week, slightly less than the revised figure of 784 last week and 822 auctions the previous week.

However, Melbourne’s clearance rate increased to 72.3% last week from 70.4% recorded the previous week.

At the same time last year, Melbourne had 674 auctions and a 58% clearance rate.

Meanwhile, Sydney’s clearance rate fell from 72.7% the previous week to 71% last week.

However, it is the fourth week in a row that Sydney’s auction clearance rate has been recorded above the 70% mark.

Sydney has 467 auctions scheduled for the coming week, slightly fewer than the revised figure of 506 auctions last week and 585 the previous week.

At the same time last year, Sydney has 454 auctions and a clearance rate of 55.5%.