By Robert Larocca

RP Data national auction preview

RP Data National Auction Preview, week ending 15 June, 2014

There are 2,345 auctions scheduled across Australia this week with 1,936 expected in capital cities. Auctions will occur in 1,096 separate suburbs.

The 9 per cent increase in auction volumes compared to this time last year is driven mainly by the Sydney market where there has been a substantial shift in selling methods for residential property. This increase is indicative of a preference by real estate agents and vendors to capitalise on the increased competition present in the market.

  • In Melbourne there are 922 auctions scheduled compared to 335 last week. In the first three months of this year 30.6 per cent of sales were by auction. This is consistent with last year but is expected to rise as data for April and May is compiled once sales are settled.
  • In Sydney there are 744 auctions expected compared to 577 last week. The substantial shift to the use of auctions for sales is revealed by new data showing that in the first three months of this year an unprecedented 25.5 per cent of all sales were by auction compared to 13.9 per cent last year.
  • Brisbane has 117 expected auctions following 95 last week.
  • Adelaide has 69 expected auctions compared to 78 last week.
  • Canberra has 39 scheduled auctions similar to the 44 last week.
  • Perth has 29 auctions, higher than last week’s 38.
  • There are 15 auctions scheduled in Tasmania.
  • Across Australia, the highest number of auctions are expected in Richmond (VIC) which has 18 scheduled. There are also 14 in Doncaster East (VIC) and Mosman (NSW).

Robert Larocca
RP Data Housing Market Specialist

Source: RPD

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