By Robert Larocca

RP Data national auction comments

RP Data National Auction Preview, week ending 8 June, 2014

There are 1,425 auctions scheduled across Australia this week with 1,073 expected in capital cities. Volumes remain higher than this time last year and are 38% higher, however, these are lower than last week due to the long weekend in most parts of the Australia.

After the record number of auctions in the first five months of the year, Sydney continues as the strongest auction market.

  • In Sydney there are 532 auctions expected compared to 1,316 last week. Sydney’s year to date clearance rate is 75.6 per cent from 15,187 auctions, well up on the 68 per cent from 9,260 this time last year.
  • In Melbourne there are 303 auctions scheduled compared to 1,356 last week. Melbourne has a year to date clearance rate of 67.5 per cent and the market has cooled after the high of 76.6 per cent in early March.
  • Brisbane has 84 expected auctions following 219 last week.
  • Adelaide has 70 expected auctions compared to 87 last week.
  • Canberra has 41 scheduled auctions similar to the 48 last week.
  • Perth has 33 auctions, higher than last week’s 30.
  • There are 24 auctions scheduled in Tasmania.

Across Australia the highest volume of auctions will be found in Auburn (NSW) and Blacktown (NSW), both of which have 10 scheduled.

Robert Larocca
RP Data Housing Market Specialist

Source: RPD

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