By Robert Larocca

Capital City auction results: 19 May 2014

National auction market stable despite a strong rise in the number of properties taken to auction.

A preliminary auction clearance rate* of 65.4 per cent was recorded this week across capital cities compared to 65.0 per cent last week and 67.3 per cent this time last year.

The auction clearance rate has maintained a stable performance despite a 42 per cent rise in the number of properties taken to auction this week and concerns the federal budget may have a negative impact on buyer demand.

In the Sydney market a weaker preliminary clearance rate of 70.9 per cent was recorded compared to 73.3 per cent last week highlighting improving conditions for buyers.

In Melbourne a preliminary clearance rate of 64.5 per cent was recorded compared to 61.9 per cent last week. Auction numbers rose steeply this week and it is significant that the clearance rate didn’t drop below the lows of the last fortnight.

Melbourne auction results: 19 May 2014

In Brisbane a preliminary clearance rate of 49.5 per cent was recorded compared to 46.7 per cent last week. Adelaide recorded a clearance rate of 65.5 per cent compared to 62.3 per cent last week. In Canberra a clearance rate of 52.6 per cent was recorded and in Perth there were 8 auction sales from 17 results. In Tasmania there was 2 sales from 5 results.

Brisbane auction results: 19 May 2014Brisbane

Adelaide auction results: 19 May 2014

Robert Larocca
RP Data Housing Market Specialist

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*Weighted average

Source: RPD

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