Queen's Birthday long weekend cuts scheduled auctions especially in Melbourne: RP Data

Nicola TrotmanDecember 7, 2020

The number of auctions scheduled across the nation’s capital cities this week has dropped to 704, with RP Data attributing the fall to the Queen’s Birthday long weekend.

The national figure is must lower than the revised figure of 1,777 auctions last week and 1,687 auctions the previous week.

Last week, the clearance rate rose to 70.4%, up from 67.1% the previous week.

At the same time last year the clearance rate was much lower at 52.7% and only 1,339 auctions were recorded.

The weekly auction leader Melbourne has dropped below Sydney this week, with only 179 scheduled auctions, while Sydney has 350 scheduled.

It’s a big drop from last week, with Melbourne recording a revised figure of 822 auctions and 823 auctions the previous week.

Melbourne’s clearance rate increased last week from 69.2% the previous week to 71.6%.

Sydney recorded its highest weekly clearance rate in over a year last week at 80.3%, a strong increase from 71.1% recorded the previous week.

Sydney recorded a revised figure of 623 auctions last week and 598 auctions the previous week.

Auctions are forecast to bounce back after the long weekend.

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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