By Robert Larocca

RP Data auction preview

Sydney clearance rate records 5 consecutive weeks of improvement

RP Data auction spokesperson Robert Larocca reports:

There are 1,611 auctions scheduled across Australia this week. In capital cities there are 1,267 auctions expected compared to only 1,180 for the same period last year.

The improving trend recorded on a national level in June and early July was halted last week, largely due to an almost 4 point drop in the clearance rate in Melbourne. In contrast demand in Sydney continues to strengthen and this should encourage more vendors into the market between August and December.

  • In Melbourne there are 590 auctions scheduled compared to 567 last week and 519 this time last year. Auction volumes remain very low in the traditionally strong auction suburbs in the inner east, for instance Hawthorn, Balwyn and Camberwell. The market will change and be tested as they rise over the coming weeks.
  • Sydney continues to record improving results with the clearance rate rising in each of the past 5 weeks. In Sydney there are 452 auctions expected compared to 580 last week and 422 for this week last year.
  • Brisbane is expecting 98 auctions after 118 last week.
  • Adelaide is expecting 59 auctions compared to 85 last week and 59 a year ago.
  • Canberra has 45 auctions scheduled compared to 41 last week.
  • Perth has 15 auctions compared to 24 last week
  • There are 3 auctions scheduled in Tasmania.

Across Australia, the highest number of auctions is 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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