By Robert Larocca

RP Data national auction review

RP Data National Auction Preview, week ending 13 July, 2014

RP Data auction spokesperson Robert Larocca reports:

There are 1,613 auctions scheduled across Australia this week. In capital cities there are 1,268 auctions expected compared to only 984 for the same period last year.

Over the past three weeks the national clearance rate has shown a rising trend with a 3.5 point rise recorded. If this trend continues it will result in a return to the 70 per cent clearance rates last recorded in February and early March on the eve of spring.

  • In Melbourne there are 527 auctions scheduled compared to 549 last week and 426 this time last year. The clearance rate exceeded 70 per cent last week however with the consumer confidence index trending down and still below 100, the market will be tested as volumes rise over the next two months.
  • In Sydney there are 497 auctions expected compared to 597 last week and only 378 for this week last year. The rising trend apparent in the market nationally is also the case in Sydney, which has seen a consistent 5-point rise over the past 5 weeks and reflects improving confidence levels.
  • Brisbane is expecting 103 auctions following 126 last week. Consistent with Sydney and Melbourne there is a rise in volumes on a year ago when there were 78 auctions.
  • Adelaide is expecting 79 auctions compared to 83 last week and only 47 a year ago.
  • Canberra has 38 auctions scheduled compared to 43 last week.
  • Perth has 22 auctions compared to 34 last week
  • There are 6 auctions scheduled in Tasmania.

Across Australia, the highest number of auctions is expected in the Sunshine Coast where 12 auctions are scheduled in Buderim.

Robert Larocca
RP Data Auction Market Specialist

Source: RPD

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