Spring auction front blooming compared to last year: RP Data

The spring selling season is in full swing this week with 2,816 auctions scheduled across the capital cities, according to RP Data.

The national clearance rate was slightly down from the previous week of 72.5% to 71.6% last week.

Auction volumes increased last week to 2,342, up from 2,229 the previous week.

At the same time last year auction volumes were substantially lower at 1,559, as was the national clearance rate at 51.4%.

Melbourne auction volumes are remaining strong with 1,124 auctions held last week, up from 1,008 the previous week but Melbourne’s preliminary clearance rate dropped from 74% the previous week to 69.9% last week.

Melbourne is forecast to have an even stronger week this week, with 1,563 auctions scheduled.

Meanwhile Sydney’s clearance rate increased last week to 81.1%, up from 79.1% the previous week.

Sydney auction volumes also increased slightly from 884 the previous week to 895 last week.

At the same time last year Sydney’s clearance rate was much lower at 53.6% as were auction volumes at 551.