Fewer auctions as weather cools: RP Data

As the weather continues to cool, slightly fewer auctions are being held, with 1,500 auctions scheduled across the capital cities this week, according to RP Data.

This figure is slightly down from the revised 1,634 auctions that took place last week and the 1,658 auctions that took place the week before.

However, the auction clearance rate last week was 67.3%, slightly up on the previous week's 64.5%.

At the same time last year, there were only 1,361 auctions and a clearance rate of 52.6%.

Melbourne has 755 auctions scheduled for the coming week, slightly less than the revised figure of 784 auctions last week and 845 auctions the previous week.

However, Melbourne recorded a strong clearance rate of 70.4% last week, up from 68.1% the previous week.

At the same time last year, Melbourne had 652 auctions and a 59.1% clearance rate.

Sydney also recorded a strong clearance rate of 72.4% last week, up from 70.6% the previous week.

Sydney has 471 auctions scheduled for the coming week, slightly fewer than the revised figure of 522 auctions last week and 517 the previous week.