By Robert Larocca

RP Data national auction preview

RP Data National Auction Preview, week ending 3 August, 2014

There are 1,731 auctions scheduled across Australia this week. In capital cities there are 1,391 auctions expected compared to 1,310 for the same period last year.

A review of volumes nationally over the first 8 months shows there have been nearly 50,833 capital city auctions in total or, 38 per cent more auctions held when compared to the same period last year.

  • In Melbourne there are 573 auctions scheduled this week compared to 736 last week and 600 this time last year. The clearance rate for the first 8 months of the year is 67.3 per cent, slightly down on the 68 per cent over the same time in 2013. Given the substantial increase in volumes this is not a negative sign.
  • In Sydney there are 519 auctions expected compared to 660 last week and 466 for this week last year. Not only have there been more auctions than the same time last year but the clearance rate is higher at 74.4 per cent compared to 69.3 per cent in 2013.
  • Brisbane is expecting 89 auctions after 162 last week. Compared to this time last year the clearance for the first 8 months is higher at 46.9 per cent compared to 39.5 per cent.
  • Adelaide is expecting 92 auctions compared to 72 last week. The auction market is strong than last year with a clearance rate of 62.4 per cent compared to 51.2 per cent.
  • Canberra has 26 auctions scheduled compared to 40 last week. The clearance rate has also risen in Canberra, at 55.9 per cent compared to 52 per cent last year.
  • Perth has 17 auctions compared to 22 last week and lower year to date clearance of 41.2 per cent compared to 47.6 per cent.
  • There are 10 auctions scheduled in Tasmania.

Across Australia, the highest number of auctions is again expected in the northern suburbs of Melbourne where 16 are expected in Reservoir.

Robert Larocca
RP Data Auction Market Specialist

Source: RPD

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