Autumn's last hurrah as auctions increase: RP Data

Autumn is set for one last hurrah with auction listings climbing back up this week, with 1,541 auctions scheduled in capital cities across the nation. Most will be held tomorrow.

The figure is slightly higher than the revised figure of 1,458 auctions last week but still lower than the previous week of 1,582 auctions.

Last week, the clearance rate rose to 69.2% - the highest rate recorded this year - up from 65.6% the week prior.

At the same time last year the clearance rate was much lower at 53.5% and only 1,300 auctions were recorded.

Melbourne has 760 auctions scheduled for the coming week, slightly more than the revised figure of 702 last week but less than the 807 auctions the previous week.

However, Melbourne’s clearance rate increased to 72.7% last week from the revised 71.3% recorded the previous week.

Meanwhile, Sydney’s clearance rate increased from the revised 67.7% the previous week to an exceptionally strong 75.3% last week.

Both Melbourne and Sydney clearance rates are outperforming when compared to the same time last year.

Melbourne recorded a 60.6% clearance rate this time last year and Sydney recorded 53.3%.

Sydney has 533 auctions scheduled for the coming week, slightly more than the revised figure of 501 auctions last week and 516 the previous week.