Sydney's public holiday holding back scheduled auctions: RP Data

Following a quiet week in Melbourne due to the AFL Grand Final, auction volumes are yet to pick back up with 1,400 auctions scheduled around the capital cities this week, according to RP Data.

Auctions volumes were down last week from 2,109 the previous week to 1,217 last week.

However, the national clearance rate increased from 73.1% the previous week to 75.9% last week.

At the same time last year, the clearance rate was substantially lower at 50.1% from 746 auctions.

Melbourne experienced a quiet week as a result of the Grand Final, with only 89 auctions held, down from 984 the previous week.

Melbourne’s preliminary clearance rate was 84.1%, up from 75.9% the previous week.

Melbourne has its auction stride back with 826 auctions scheduled this week.

Sydney had a busy week last week with 872 auctions, up from 766 the previous week.

The clearance rate remained unchanged at 81.4%.

At the same time last year, Sydney held 491 auctions and had a clearance rate of 55.2%.

It’s Sydney’s turn to quiet down this week, a possible result of the public holiday on Monday, with only 364 auctions scheduled.